| Author (Corporate) | European Commission |
|---|---|
| Series Title | COM |
| Series Details | (2014) 435 final (02.06.14) |
| Publication Date | 02/06/2014 |
| Content Type | Policy-making |
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By Council Decision 2010/282/EU of 2 December 2009, following a recommendation from the Commission, it was decided that an excessive deficit existed in Austria. The Council noted that the general government deficit planned for 2009 was 3.9% of GDP, thus above the 3% of GDP Treaty reference value, while the general government gross debt was planned to reach 68.2% of GDP in 2009, thus above the 60% of GDP Treaty reference value. On 2 December 2009, in accordance with Article 126(7) TFEU 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 Austria 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, as from 2014, which is the year following the correction of the excessive deficit, Austria 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, and make sufficient progress towards compliance with the debt criterion in accordance with Article 2(1a) of Council Regulation (EC) 1467/97 of July 1997 on speeding up and clarifying the implementation of the excessive deficit procedure. In the view of the Council, the excessive deficit in Austria has been corrected and Decision 2010/282/EU should therefore be abrogated. |
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| Source Link | Link to Main Source http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=COM:2014:435:FIN |
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| Countries / Regions | Austria, Europe |
