Press Release: Commission assesses the updated convergence programmes of Denmark, Estonia, Malta, Poland and Slovakia

Having examined their respective updated multi-annual convergence programmes, the European Commission on 2 February 2005 concluded that Denmark and Estonia fully met the requirements of the Stability and Growth Pact on budgetary discipline while Malta was on track for correcting its excessive deficit by 2006 as recommended by the Council. But it called on Poland to strengthen fiscal adjustment and to carry out the comprehensive reform plan adopted in 2004 in order to be able to bring its deficit below 3% of GDP in 2007. Slovakia was called to use any expenditure savings and unexpected revenues to accelerate the reduction of its deficit. The Commission's recommendations on the five convergence programmes as well as on six stability programmes also assessed on the same day (see IP/05/129) were on the agenda of the European Union Finance Ministers meeting on 17 February 2005.