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Image header Agence Europe
Europe Daily Bulletin No. 10622
ECONOMY - FINANCES / (ae) economy

Deadlines for excess deficit rectification

Brussels, 29/05/2012 (Agence Europe) - The deadlines set by the ECOFIN Council for deficit correction by the member states (reducing their deficits to below the 3% of GDP cut-off point) are: - 2011: Bulgaria (European Commission's May 2012 deficit forecasts: 1.9% in 2012, 1.7% in 2013 under current policy), Hungary (2.5% in 2012, 2.9% in 2013), Malta (2.6% in 2012, 2.9% in 2013); - 2012: Belgium (3% in 2012, 3.3% in 2013), Cyprus (3.4% in 2012, 2.5% in 2013), Italy (2% in 2012, 1.1% in 2013), Latvia (2.1% in 2012, 2.1% in 2013), Lithuania (3.2% in 2012, 3% in 2013), Poland (3% in 2012, 2.5% in 2013), Romania (2.8% in 2012, 2.2% in 2013); - 2013: Germany (0.9% in 2012, 0.7% in 2013), Austria (3% in 2012, 1.9% in 2013), Denmark (4.1% in 2012, 2% in 2013), Spain (6.4% in 2012, 6.3% in 2013), France (4.5% in 2012, 4.2% in 2013), the Netherlands (4.4% in 2012, 4.6% in 2013), Portugal (4.7% in 2012, 3.1% in 2013), the Czech Republic (2.9% in 2012, 2.6% in 2013), Slovakia (4.7% in 2012, 4.9% in 2013), Slovenia (4.3% in 2012, 3.8% in 2013); - 2014: Greece (7.3% in 2012, 8.4% in 2013), the United Kingdom (6.7% in 2012, 6.5% in 2013); - 2015: Ireland (8.3% in 2012, 7.5% in 2013). Four member states - Estonia, Finland, Luxembourg and Sweden - are not subject to any excess deficit proceedings. (MB/transl.fl)