IDEAS home Printed from https://ideas.repec.org/a/ecb/ecbbox/201800045.html
   My bibliography  Save this article

Country-specific recommendations for fiscal policies under the 2018 European Semester

Author

Listed:
  • Haroutunian, Stephan
  • Hauptmeier, Sebastian
  • Leiner-Killinger, Nadine

Abstract

On 23 May the European Commission issued its 2018 European Semester Spring Package of policy recommendations for Member States. The package includes country-specific recommendations (CSRs) for economic and fiscal policies for all EU Member States. It also covers recommendations regarding the implementation of the European Union's Stability and Growth Pact (SGP) for a number of countries. With regard to fiscal policies, the recommendations focus in particular on Member States' compliance with the SGP on the basis of the Commission's 2018 spring forecast and the Commission's assessment of countries' policy plans as reflected in the updates of the stability and convergence programmes released in April. This year's European Semester exercise is important particularly with a view to avoiding any repetition of mistakes made prior to the financial crisis when sufficient fiscal buffers were not built up in economic good times and the ensuing recession was aggravated by the sudden necessity of pro-cyclical fiscal tightening. Against this background, this box examines the fiscal policy recommendations that are addressed to 18 euro area countries (i.e. excluding Greece). JEL Classification: H60, H68

Suggested Citation

  • Haroutunian, Stephan & Hauptmeier, Sebastian & Leiner-Killinger, Nadine, 2018. "Country-specific recommendations for fiscal policies under the 2018 European Semester," Economic Bulletin Boxes, European Central Bank, vol. 4.
  • Handle: RePEc:ecb:ecbbox:2018:0004:5
    Note: 343309
    as

    Download full text from publisher

    File URL: https://www.ecb.europa.eu//pub/economic-bulletin/focus/2018/html/ecb.ebbox201804_05.en.html
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    European Semester; fiscal developments; fiscal governance; Stability and Growth Pact;
    All these keywords.

    JEL classification:

    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General
    • H68 - Public Economics - - National Budget, Deficit, and Debt - - - Forecasts of Budgets, Deficits, and Debt

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ecb:ecbbox:2018:0004:5. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: . General contact details of provider: https://edirc.repec.org/data/emieude.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Official Publications (email available below). General contact details of provider: https://edirc.repec.org/data/emieude.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.