First Annual Growth Survey (Communication)
The Commission’s first Annual Growth Survey marks the start of the first “European semester”. The “European semester” is an ex-ante policy coordination procedure between the 27 Member States. Consequently, the Survey contains recommendations for future economic policy and fiscal measures in Member States. The implementation of these measures is to support economic recovery as well as achieving the targets of the “Europe 2020” strategy.
The measures proposed in the Annual Growth Survey are principally appropriate to reduce the Member States’ indebtedness. In particular, states with a current account surplus should improve their investment conditions as proposed by the Commission. However, the Commission should pay greater attention to the fact that a cut in public spending is often more growth friendly than tax increases.