The AGS sets out the EU’s priorities for the next 12 months in terms of budgetary policies, and is the starting point of the 2nd Economic Semester of economic governance which is driving delivery on Europe 2020. The AGS is published with annexes including a progress report on Europe 2020, and a macroeconomic report, draft joint employment report and report on promoting growth-friendly tax policies. Other elements in the package also include 2 Regulations tightening economic and budgetary surveillance in the euro area and a Green Paper on Stability Bonds.
In the AGS, the key message is that the EU’s economic and social situation is deteriorating, economic governance must be embedded and deficits reduced and that more, urgent efforts are needed to put Europe back on track on growth and jobs, but without a specific reference to inclusive growth. The 5 priorities are:
- Pursuing differentiated growth-friendly fiscal consolidation
- Restoring normal lending to the economy
- Promoting growth and competitiveness for today and tomorrow
- Tackling unemployment and the social consequences of the crisis
- Modernising public administration
- Package of Documents published today on President Barroso’s website
- Annual Growth Survey
- Annex: Progress Report on Europe 2020
Other relevant documents include:
EAPN will assess the AGS and package of documents with its Executive Committee this week.
Read also EAPN’s press release 10/11 on this topic: Adoption of the Annual Growth Survey: Make reducing poverty and inequality a key driver for Inclusive Recovery and Growth