The Pre-Accession Economic Programmes (PEPs) are part of the pre-accession fiscal surveillance procedure, which aims at preparing the candidate countries for the participation in the multilateral surveillance and economic policy co-ordination procedures currently in place in the EU as part of the Economic and Monetary Union.
The objectives of these programmes are to outline the appropriate medium-term policy framework, including public finance objectives and structural reform priorities, needed for EU accession. They offer an opportunity to develop the institutional and analytical capacity necessary to participate in EMU with a derogation from the adoption of the euro upon accession, particularly in the areas of multilateral surveillance and co-ordination of economic policies.
Following its decision to put accession negotiations on hold and to reconsider its application for EU membership, Iceland did not submit a PEP in 2014 and was not covered in the 2014 Commission assessment.
Having been granted candidate status by the European Council's decision of 17 December 2010, Montenegro submitted an Economic and Fiscal Programme covering the period 2011-13 which is assessed together with the other four PEPs.
As the country was granted candidate status by the European Council's decision of 1-2 March 2012, the Economic and Fiscal Programme it had submitted earlier that year was presented and assessed together with the five PEPs of the other candidate countries at the time. As from 2013 Serbia has submitted a PEP.