The European Commission today proposes its 2016 country-specific recommendations (CSRs), setting out its economic policy guidance for individual Member States for the next 12 to 18 months. In addition to efforts already identified and ongoing at European level, this guidance focuses on priority reforms to strengthen the recovery of Member States’ economies by boosting investment, implementing structural reforms and pursuing fiscal responsibility.
The CSRs also reflect the Commission’s efforts to make the European Semester of economic governance more effective and relevant. The Commission has this year proposed fewer recommendations with a focus on key economic and social priorities identified in its Annual Growth Survey 2016. To strengthen national ownership, it has provided more time and more opportunities to engage and communicate with Member States and stakeholders at all levels. It has also added a greater focus on the euro area challenges and on the interdependence between economies, in line with the agreed recommendation for the economic policy of the euro area. As external factors supporting Europe’s moderate recovery are fading, domestic sources of growth are gaining in importance.
Today’s recommendations therefore focus on the Commission’s three priority areas: Investment is still low compared to pre-crisis levels but is gaining traction, also helped by the Investment Plan for Europe. Faster progress on structural reforms is necessary to boost the recovery and raise the long-term growth potential of EU economies. All Member States need to pursue responsible fiscal policies and ensure growth-friendly composition of their budgets.
