Recommendation for a Council Recommendation with a view to bringing an end to the situation of an excessive government deficit in Croatia

According to Article 126 of the Treaty on the Functioning of the European Union (TFEU) Member States shall avoid excessive government deficits. The Stability and Growth Pact is based on the objective of sound government finances as a means of strengthening the conditions for price stability and for strong sustainable growth conducive to employment creation.

The Council decided, in accordance with Article 126(6) TFEU, that an excessive deficit existed in Croatia. In accordance with Article 126(7) TFEU and Article 3 of Council Regulation (EC) No 1467/97 on speeding up and clarifying the implementation of the excessive deficit procedure (EDP), the Council is required to address recommendations to the Member State concerned with a view to bringing the situation of an excessive deficit to an end within a given period. The recommendation has to establish a maximum deadline of six months for effective action to be taken by the Member State concerned to correct the excessive deficit.

EUR-Lex: SWD(2013)523: Analysis by the Commission services of the budgetary situation in Croatia http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=SWD:2013:523:FIN

EUR-Lex: COM(2013)914: Follow the progress of this recommendation through the decision-making procedure http://eur-lex.europa.eu/legal-content/EN/HIS/?uri=COM:2013:914:FIN

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

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