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Assessment of stability and convergence programmes

Commission assesses Stability Programmes of Austria, Cyprus, Malta, Portugal and Slovenia and Convergence Programmes of Bulgaria, the Czech Republic, Estonia and Latvia

13/02/2008. Today the Commission has assessed the Stability Programmes of Austria, Cyprus, Malta, Portugal and Slovenia (see Press Release Choose translations of the previous link ).

It also assessed the Convergence Programmes of Bulgaria, the Czech Republic, Estonia and Latvia (see Press Release Choose translations of the previous link ). 

Two groups of countries were already assessed in January and discussed at the 12 February EU Finance Ministers Council.

On 19 February the Commission will examine a fourth group of programmes. The programmes from the third and fourth group are expected to be then discussed at the 4 March EU Finance Ministers Council.

According to Council Regulation (EC) No 1466/97 on the strengthening of budgetary surveillance and the surveillance and coordination of economic policies (as amended by Regulation No 1055/2005), Member States must submit updated macroeconomic and budgetary projections every year. Such updates are called stability programmes in the case of countries that have adopted the euro, and convergence programmes in the case of those that have not yet done so. This regulation is also referred to as the 'preventive arm' of the Stability and Growth Pact.

 

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