| Author (Corporate) | European Commission: DG Economic and Financial Affairs |
|---|---|
| Publisher | EC |
| Publication Date | June 2004 |
| Content Type | Policy-making, Report |
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In the Communication on the state of Public finances in EMU - 2004, the European Commission calls for achieving sound budgetary positions as a means to raise the growth potential in line with the Lisbon strategy. The Commission remarks that challenging developments have taken place in the last years, involving an increased activation of procedures for budgetary surveillance, and unwelcome tensions in the application of the EU framework. While there is a need to reassess the functioning of the framework, the conduct of fiscal policies in Europe should benefit from past experience and budgetary consolidations should be continued as economic conditions improve. The Commission Communication is published at the same time as the fifth annual report on Public finances in EMU prepared by the Directorate General for Economic and Financial Affairs. The report is part of Commission efforts to upgrade the analysis and surveillance of fiscal policies in EMU, and to place emphasis on the quality and sustainability of public finances as a means to increase their contribution to growth potential. Moreover, the report reviews ideas on how to strengthen the framework for economic governance and to improve its enforcement. |
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| Source Link | http://ec.europa.eu/economy_finance/publications/european_economy/public_finances_emu_en.htm |
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| Subject Categories | Economic and Financial Affairs |
| Countries / Regions | Europe |
