Decision 2017/1191 - Abrogation of Decision 2014/56/EU on the existence of an excessive deficit in Croatia - Main contents
Please note
This page contains a limited version of this dossier in the EU Monitor.
Contents
official title
Council Decision (EU) 2017/1191 of 16 June 2017 abrogating Decision 2014/56/EU on the existence of an excessive deficit in CroatiaLegal instrument | Decision |
---|---|
Number legal act | Decision 2017/1191 |
Original proposal | COM(2017)529 |
CELEX number i | 32017D1191 |
Document | 16-06-2017; Date of adoption |
---|---|
Publication in Official Journal | 05-07-2017; OJ L 172 p. 8-9 |
Effect | 21-06-2017; Takes effect Date notif. |
End of validity | 31-12-9999 |
Notification | 21-06-2017 |
5.7.2017 |
EN |
Official Journal of the European Union |
L 172/8 |
COUNCIL DECISION (EU) 2017/1191
of 16 June 2017
abrogating Decision 2014/56/EU on the existence of an excessive deficit in Croatia
THE COUNCIL OF THE EUROPEAN UNION,
Having regard to the Treaty on the Functioning of the European Union, and in particular Article 126(12) thereof,
Having regard to the recommendation from the European Commission,
Whereas:
(1) |
On 28 January 2014, following a recommendation from the Commission, the Council decided, by Decision 2014/56/EU (1), in accordance with Article 126(6) of the Treaty, that an excessive deficit existed in Croatia. The Council noted that the general government deficit planned for 2014 was 5,5 %, thus above the 3 %-of-GDP Treaty reference value. The general government gross debt was foreseen to reach 62 % of GDP in 2014, thus above the 60 %-of-GDP Treaty reference value. |
(2) |
On 28 January 2014, in accordance with Article 126(7) of the Treaty and Article 3(4) of Council Regulation (EC) No 1467/97 (2), the Council, based on a recommendation from the Commission, addressed a recommendation to Croatia with a view to bringing the excessive deficit situation to an end by 2016 at the latest. |
(3) |
On 2 July 2014, the Commission concluded that Croatia had taken effective action in compliance with the Council recommendation of 28 January 2014 under Article 126(7) of the Treaty. |
(4) |
In accordance with Article 4 of the Protocol on the excessive deficit procedure annexed to the Treaties, the Commission provides the statistical data for the implementation of the procedure. As part of the application of that Protocol, Member States are to notify statistical data on government deficits and debt and other associated variables twice a year, namely before 1 April and before 1 October, in accordance with Article 3 of Council Regulation (EC) No 479/2009 (3). |
(5) |
The Council has to take a decision to abrogate a decision on the existence of an excessive deficit on the basis of notified statistical data. Moreover, a decision on the existence of an excessive deficit should be abrogated only if the Commission forecasts indicate that the deficit will not exceed the 3 %-of-GDP Treaty reference value over the forecast horizon and the debt ratio fulfils the forward looking element of the debt reduction benchmark (4). |
(6) |
Based on data provided by the Commission (Eurostat) in accordance with Article 14 of Regulation (EC) No 479/2009, following the April 2016 notification by Croatia, the convergence programme for 2017-2020 and the Commission 2017 spring forecast, the following conclusions are justified:
|
More
This text has been adopted from EUR-Lex.
This dossier is compiled each night drawing from aforementioned sources through automated processes. We have invested a great deal in optimising the programming underlying these processes. However, we cannot guarantee the sources we draw our information from nor the resulting dossier are without fault.
This page is also available in a full version containing the legal context, de Europese rechtsgrond, other dossiers related to the dossier at hand and the related cases of the European Court of Justice.
The full version is available for registered users of the EU Monitor by ANP and PDC Informatie Architectuur.
The EU Monitor enables its users to keep track of the European process of lawmaking, focusing on the relevant dossiers. It automatically signals developments in your chosen topics of interest. Apologies to unregistered users, we can no longer add new users.This service will discontinue in the near future.