An assessment of draft budgetary plans for 2019

Stephan Haroutunian, Sebastian Hauptmeier and Nadine Leiner-Killinger

Economic Bulletin Boxes, 2018, vol. 8

Abstract: On 21 November 2018 the European Commission released its opinions on the draft budgetary plans (DBPs) of euro area governments for 2019, together with an analysis of the budgetary situation in the euro area as a whole. Each opinion includes an assessment of the compliance of the relevant plan with the Stability and Growth Pact (SGP). This exercise is important as it assesses whether countries have incorporated into their plans the country-specific recommendations for fiscal policies that were addressed to them under the 2018 European Semester, as adopted by the Economic and Financial Affairs Council on 13 July 2018. These recommendations propose, among other things, that countries with high ratios of government debt to GDP aim for a sufficiently fast reduction in indebtedness. This would raise their resilience in a future economic downturn. JEL Classification: H60, H68

Keywords: European Semester; fiscal developments; fiscal governance; Stability and Growth Pact (search for similar items in EconPapers)
Date: 2018-12
Note: 343309
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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbbox:2018:0008:6

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