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European Commission Spokesman's Briefing for 99-01-13

Midday Express: News from the EU Commission Spokesman's Briefings Directory - Previous Article - Next Article

From: EUROPA, the European Commission Server at <http://europa.eu.int>

MIDDAY EXPRESS

News from the Spokesman's midday briefing

Nouvelles du rendez-vous de midi du Porte-Paroleb

13/01/99


CONTENTS / CONTENU

  • [01] Commission assesses the Austrian stability programme
  • [02] La Commission évalue le programme de stabilité de l'Irlande

  • [01] Commission assesses the Austrian stability programme

    The European Commission made a recommendation to the Council of Ministers on the Austrian stability programme. The recommendation was made in accordance with the new reinforced procedures of the Stability and Growth Pact for the monitoring of the economic and budgetary policies of the countries of the European Union. The Austrian stability programme covers the period 1998-2002 and envisages a reduction in the general government deficit ratio to 1.4% of GDP and in the gross debt ratio to 60% of GDP by the end of the period of the programme. The Commission concludes that the envisaged deficit target provides the necessary margin to prevent the government deficit from exceeding the 3% of GDP reference value under normal cyclical conditions. The Commission considers, however, the budgetary strategy appears risk prone and that an additional safety margin would be necessary to insure against unforeseen developments in economic activity and in the public finances. In addition, such a safety margin would provide room for the potential use of active budgetary policy and help secure a faster decline in the debt ratio. The Commission deems the general thrust of structural measures announced in the programme appropriate and in line with the Broad Economic Guidelines agreed at the Cardiff European Council. On the basis of the Commission's recommendation, the Council is expected to adopt a formal opinion on the Austrian programme on 18 January.

    [02] La Commission évalue le programme de stabilité de l'Irlande

    La Commission européenne a adressé une recommandation au Conseil des ministres sur le programme de stabilité de l'Irlande. La conclusion de la Commission est que la politique budgétaire présentée dans ce programme est conforme aux exigences du pacte de stabilité et de croissance ainsi qu'aux grandes orientations des politiques économiques arrêtées au Conseil européen de Cardiff. Le programme irlandais repose sur le budget 1999, qui présente les perspectives macroéconomiques et budgétaires pour la période allant de 1999 à 2001. Par rapport à la croissance rapide qu'a connue l'Irlande ces dernières années, l'activité devrait se ralentir quelque peu, tout en demeurant nettement supérieure à la moyenne de l'Union européenne. De plus, l'Irlande devrait enregistrer un excédent budgétaire jusqu'en 2001. Parallèlement, on estime que le ratio de la dette publique est passé en dessous de la barre des 60% en 1998 et qu'il devrait tomber à 43% en 2001. Sur la base de la recommandation de la Commission, le Conseil devrait rendre un avis formel concernant le programme de stabilité de l'Irlande le 18 janvier 1999.

    MIDDAY EXPRESS


    From EUROPA, the European Commission Server at http://europa.eu.int/
    © ECSC - EC - EAEC, Brussels-Luxembourg, 1995, 1996


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