Today, the Council agreed its country-specific recommendations on the economic, social, employment, structural and budgetary policies of each member state.
This step is part of the 2024 European Semester process, which enables member states to coordinate their economic, employment and fiscal policies.
This year the European Semester cycle will be aligned with the provisions of the EU’s reformed economic governance framework. Under the new rules, in force since 30 April, member states will prepare medium-term fiscal structural plans in the autumn, setting out their expenditure paths and their priority reforms and investments.
The country-specific recommendations provide guidance for the reform and the investment commitments member states are encouraged to include in these plans, especially if they wish to extend their fiscal adjustment period from four to seven years. Such an extended adjustment period would result into an overall lower fiscal effort per year that would be required of a member state.
Next steps : The European Council will be invited to discuss the country-specific recommendations at its meeting in October 2024.After that, the Council can proceed with the formal adoption of the recommendations, which concludes the final stage of the 2024 European Semester process.
Background : Introduced in 2011, the European Semester enables the EU member states to coordinate their economic, fiscal and employment policies throughout the year and address the economic challenges facing the EU.
The Commission presents each country with a set of draft country-specific recommendations (CSRs) on their economic, social, employment, structural and budgetary policies, providing policy guidance on how to boost jobs and growth, while maintaining sound public finances.
On this basis, the Council then adopts country-specific recommendations (CSRs). It provides explanations in cases where it does not follow the Commission’s recommendations.