Communication: 2016 European Semester: Assessment of progress on structural reforms, prevention and correction of macroeconomic imbalances, and results of in-depth reviews

Summary:

The European Semester is an important vehicle for delivering reforms at national and EU level. It provides focus and coordination to the efforts of all Member States on macroeconomic, budgetary and structural reforms. Following the Commission Communication on steps towards Completing Economic and Monetary Union, the 2016 European Semester takes forward the streamlined process initiated in 2015. It integrates the euro area and national dimensions, and puts a stronger focus on employment, social performance, investment and competitiveness. It promotes convergence and recognises the support to reforms from European funds, in particular the European Structural and Investment Funds, and technical assistance.

In the Annual Growth Survey 2016, the Commission put emphasis on the need to consolidate the recovery, set it on a sustainable path and to accelerate the process of upward convergence. Euro area challenges and priorities were also spelled out in the recommendation on the economic policy of the euro area. Pursuing upward economic and social convergence is essential to tackle the disparities between and within Member States. In this light, the Commission invited Member States to take advantage of the ongoing moderate recovery to focus policy efforts on the three following priorities: re-launching investment, pursuing structural reforms to modernise EU economies and responsible fiscal policies.

ESO Records

Background Information: European Semester 2016: fewer Member States have economic imbalances than a year ago http://www.europeansources.info/record/press-release-european-semester-2016-fewer-member-states-have-economic-imbalances-than-a-year-ago/

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