Communication from the Commission to the Council and the European Parliament COM(2005) 231 final
The Communication on Public Finances in EMU 2005 summarises the main policy messages of the yearly Public Finances in EMU report prepared by Directorate General for Economic and Financial Affairs.
The Commission calls on Member States to live up to their renewed commitment to sound budgetary policies and pledges to implement forcefully the reformed Growth and Stability Pact. The report shows that the average budget deficit in the euro area and in the EU25 improved slightly in 2004 after having deteriorated for three consecutive years. But this was largely the result of progress in new Member States. The situation of public finances needs to be dealt with resolutely to prevent debt ratios from increasing, also in view of looming ageing prospects, and to better use public resources to foster a higher growth potential.
The main conclusions from the analysis presented in the 2005 Public Finances in EMU report are as follows:
Part I: Current developments and prospects (pdf file 250 kb)
Part II: Evolving budgetary surveillance (pdf file 500 kb)
Part III: Structural reforms and budgetary objectives (pdf file 280 kb)
Part IV: Fiscal challenges during convergence in the recently acceded Member States (pdf file 230 kb)
Part V: Member States developments (pdf file 210 kb)
Part VI: Resources (pdf file 100 kb)
Statistical annex (pdf file 1040 kb)
|ISBN 92-894-8882-4 (online)|