| Author (Corporate) | European Commission |
|---|---|
| Series Title | COM |
| Series Details | (2014) 418 final (02.06.14) |
| Publication Date | 02/06/2014 |
| Content Type | Policy-making |
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On 9 July 2013, the Council adopted a recommendation on Hungary’s national reform programme for 2013 and delivered its opinion on Hungary’s updated convergence programme for 2013-2016. On 13 November 2013, the Commission adopted the Annual Growth Survey, marking the start of the 2014 European Semester of economic policy coordination. On the same day on the basis of Regulation (EU) No 1176/2011, the Commission adopted the Alert Mechanism Report, in which it identified Hungary as one of the Member States for which an in-depth review would be carried out. On 5 March 2014, the Commission published the results of its in-depth review for Hungary, under Article 5 of Regulation (EU) no 1176/2011. The Commission's analysis leads it to conclude that Hungary continues to experience macroeconomic imbalances, which require monitoring and decisive policy action. In particular, the ongoing adjustment of the highly negative net international position, the high level of public and private debt in the context of a fragile financial sector and deteriorating export performance continue to deserve very close attention with a view to reducing the important risks of adverse effects on the functioning of the economy. On 30 April 2014, Hungary submitted its 2014 national reform programme and its 2014 convergence programme. In order to take account of their interlinkages, the two programmes have been assessed at the same time. |
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| Source Link | http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=COM:2014:418:FIN |
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| Countries / Regions | Europe, Hungary |
