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European Semester 2014: strengthening the recovery - 13/11/2013

Person holding binoculars containing 1 euro coins © EU

Package of economic and budgetary recommendations sets priorities for 2014, including tackling unemployment and restoring bank lending to the economy.

The biggest challenge now facing Europe's economy is how to sustain the recovery that is now underway. This is the main message of this year’s Annual Growth Survey (AGS), adopted today by the Commission. Its adoption kicks off the fourth European Semester of economic policy coordination in an environment where growth is beginning to return and Member States are making progress on correcting the imbalances that developed before the crisis.

That is why the Commission maintains its balanced strategy for growth and jobs, and its focus on five main priorities over the coming year:

  • Pursuing differentiated, growth-friendly fiscal consolidation
  • Restoring bank lending to the economy
  • Promoting growth and competitiveness for today and tomorrow
  • Tackling unemployment and the social consequences of the crisis
  • Modernising public administration

President Barroso said: “This is a turning point for the EU economy. The EU's hard work is starting to pay off and growth is slowly coming back. The 2014 Annual Growth Survey points out where we need to be bolder to tackle reforms that are needed to build a lasting and job-rich recovery.”

The AGS shows how Member States are adjusting to the recently reinforced economic policy-coordination process under the European Semester, and are working better together according to common rules.

Press release - European Semester 2014: strengthening the recovery

European Semester (infographic) pdf - 7 MB [7 MB] Deutsch (de) français (fr)

EU economic forecast: Gradual recovery, external risks

Press release on the budgetary surveillance package

Factsheet on the Commission's assessment of the draft budgetary plans for the euro area

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