| Author (Corporate) | European Commission |
|---|---|
| Series Title | COM |
| Series Details | (2015) 326 final (1.7.15) |
| Publication Date | 01/07/2015 |
| Content Type | Policy-making, Report |
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On 10 March 2015 the Council issued a recommendation to France with a view to bringing an end to the excessive deficit situation by 2017. France was recommended to reach a headline deficit of 4.0% of GDP in 2015, 3.4% of GDP in 2016 and of 2.8% of GDP in 2017. Based on the macroeconomic forecast underlying the Council recommendation, this was considered consistent with an improvement of the structural balance of 0.5% of GDP in 2015, 0.8% for 2016 and 0.9% in 2017 and would require additional measures of 0.2% of GDP in 2015, 1.2% in 2016 and 1.3% in 2017. The Council established the deadline of 10 June 2015 for France to report in detail on action taken regarding (i) the additional structural discretionary measures adopted to ensure the achievement of the recommended improvement in the structural balance in 2015; and (ii) the outlined key budgetary measures for reaching the targets in 2016 and 2017. In addition, France was required to provide an ex-ante evaluation of the key measures underpinning the adjustment for 2016 and 2017 ahead of the deadline. At the established deadline, the French authorities submitted a report to the Commission presenting the measures taken in response to the Council recommendation and outlining the consolidation strategy envisaged to achieve the targets set by the Council. The Commission has examined the budgetary strategy of France based on the information included in the report on action taken, in order to assess whether France has complied with the Council recommendation of 10 March 2015. |
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| Source Link | http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=COM:2015:326:FIN |
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| Countries / Regions | France |
