| Author (Corporate) | European Commission |
|---|---|
| Series Title | COM |
| Series Details | (2014) 423 final (02.06.14) |
| Publication Date | 02/06/2014 |
| Content Type | Policy-making |
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Portugal was subject to a macroeconomic adjustment programme until 17 May 2014 in line with Article 1(2) of Decision 2011/344/EU, which provided that the financial assistance would be made available for three years. On 19 March 2014, the Council decided to extend the availability of the financial assistance by six weeks, to allow for a comprehensive and thorough assessment of compliance with the programme conditionality and an orderly disbursement of the last loan tranche. Under Article 12 of Regulation (EU) No 472/2013 Portugal was thus exempt from the monitoring and assessment of the European Semester for economic policy coordination for the duration of the programme. Having exited the programme, Portugal should now be fully re-integrated into the European Semester framework. 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. Pursuant to Regulation (EU) No 472/2013, Portugal was exempted from the obligation to submit its Stability Programme and its National Reform Programme for the duration of the macroeconomic adjustment programme. Nevertheless, it submitted an updated Fiscal Strategy Document on 30 April 2014 and a letter from the Portuguese Government providing an update on developments on the Europe 2020 targets. On 17 May, the Government presented its ongoing reform programme and new initiatives towards sustainable growth in a document entitled The Road to Growth, a medium-term reform strategy for Portugal. |
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| Source Link | Link to Main Source http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=COM:2014:423:FIN |
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| Countries / Regions | Europe, Portugal |
