2015 Reform Programme and 2015 Convergence Programme of Hungary - Main contents
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Contents
official title
Council Recommendation of 14 July 2015 on the 2015 National Reform Programme of Hungary and delivering a Council opinion on the 2015 Convergence Programme of Hungary| Legal instrument | Recommendation |
|---|---|
| Original proposal | COM(2015)266  |
| CELEX number i | 32015H0818(21) |
| Document | 14-07-2015; Date of adoption |
|---|---|
| Publication in Official Journal | 18-08-2015; OJ C 272 p. 76-79 |
| End of validity | 31-12-9999 |
18.8.2015 |
EN |
Official Journal of the European Union |
C 272/76 |
COUNCIL RECOMMENDATION
of 14 July 2015
on the 2015 National Reform Programme of Hungary and delivering a Council opinion on the 2015 Convergence Programme of Hungary
(2015/C 272/20)
THE COUNCIL OF THE EUROPEAN UNION,
Having regard to the Treaty on the Functioning of the European Union, and in particular Articles 121(2) and 148(4) thereof,
Having regard to Council Regulation (EC) No 1466/97 of 7 July 1997 on the strengthening of the surveillance of budgetary positions and the surveillance and coordination of economic policies (1), and in particular Article 9(2) thereof,
Having regard to Regulation (EU) No 1176/2011 of the European Parliament and of the Council of 16 November 2011 on the prevention and correction of macroeconomic imbalances (2), and in particular Article 6(1) thereof,
Having regard to the recommendation of the European Commission,
Having regard to the resolutions of the European Parliament,
Having regard to the conclusions of the European Council,
Having regard to the opinion of the Employment Committee,
Having regard to the opinion of the Economic and Financial Committee,
Having regard to the opinion of the Social Protection Committee,
Having regard to the opinion of the Economic Policy Committee,
Whereas:
(1) |
On 26 March 2010, the European Council agreed to the Commission's proposal to launch a new strategy for growth and jobs, Europe 2020, based on enhanced coordination of economic policies. The strategy focuses on the key areas where action is needed to boost Europe's potential for sustainable growth and competitiveness. |
(2) |
On 14 July 2015, the Council, on the basis of the Commission’s proposals, adopted a Recommendation on the broad guidelines for the economic policies of the Member States and the Union and, on 21 October 2010, it adopted a decision on guidelines for the employment policies of the Member States (3). Together these form the ‘integrated guidelines’ which Member States were invited to take into account in their national economic and employment policies. |
(3) |
On 8 July 2014, the Council adopted a Recommendation (4) on Hungary's National Reform Programme for 2014 and delivered its opinion on Hungary's updated Convergence Programme for 2014. |
(4) |
On 28 November 2014, the Commission adopted the Annual Growth Survey, marking the start of the 2015 European Semester for economic policy coordination. On the same day, on the basis of Regulation (EU) No 1176/2011, the Commission adopted the Alert Mechanism Report, in which it identified Hungary as one of the Member States for which an in-depth review would be carried out. |
(5) |
On 18 December 2014, the European Council endorsed the priorities for fostering investment, intensifying structural reforms and pursuing responsible growth-friendly fiscal consolidation. |
(6) |
On 26 February 2015, the Commission published its 2015 country report for Hungary. This assessed Hungary's progress in addressing the country-specific recommendations adopted on 8 July 2014. The country report also includes results of the in-depth review under Article 5 of Regulation (EU) No 1176/2011. The Commission's analysis leads it to conclude that Hungary is experiencing macroeconomic imbalances which require decisive policy action and monitoring. Attention should be given, in particular, to the risks stemming from the net international position (which, despite some progress in the rebalancing of external accounts, is still highly negative), the high level of public debt, the significant regulatory burden on the financial sector and the high level of non-performing loans, which make deleveraging difficult. |
(7) |
On 30 April 2015, Hungary submitted its 2015 National Reform Programme and its 2015 Convergence... |
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