Recommendation for a Council Decision abrogating Decision 2010/290/EU on the existence of an excessive deficit in Slovakia

By Council Decision 2010/290/EU of 2 December 2009, following a recommendation from the Commission, it was decided that an excessive deficit existed in Slovakia. The Council noted that according to the data notified by the Slovak authorities in October 2009, the general government deficit was planned to reach 6.3% of GDP in 2009, above the 3% of GDP Treaty reference value, while the general government gross debt was planned to stand at around 36% of GDP in 2009, well below the 60% of GDP Treaty reference value.

On 2 December 2009, in accordance with Article 126(7) of the Treaty and Article 3(4) of Council Regulation (EC) No 1467/97 of 7 July 1997 on speeding up and clarifying the implementation of the excessive deficit procedure, the Council, based on a recommendation from the Commission, addressed a recommendation to Slovakia with a view to bringing the excessive deficit situation to an end by 2013 at the latest. The recommendation was made public.

The Council recalls that, starting from 2014, which is the year following the correction of the excessive deficit, Slovakia is subject to the preventive arm of the Stability and Growth Pact and should progress towards its medium-term objective at an appropriate pace, including respecting the expenditure benchmark.

In the view of the Council, the excessive deficit in Slovakia has been corrected and Decision 2010/290/EU should therefore be abrogated.

EUR-Lex: COM(2014)430: Follow the progress of this recommendation through the decision-making procedure http://eur-lex.europa.eu/legal-content/EN/HIS/?uri=COM:2014:430:FIN

ESO: Background information: Commission takes steps under the Excessive Deficit Procedure (EDP) http://www.europeansources.info/record/memo-commission-takes-steps-under-the-excessive-deficit-procedure-edp/

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