Brussels, 05/11/2002 (Agence Europe) - At the conclusion of their economic policy dialogue, on Tuesday in Brussels on the fringe of the Ecofin Council, the Economy and Finance Ministers of the applicant and EU States adopted joint conclusions that confirm that the divide in terms of average per capita GDP between the present and future members remains large (in 2001, per capita GDP measured in buying power standard attained an average, for the next ten members, of 39.3% of the Community average, as compared to 38.5% in 2000). In the light of the economic programmes for 2002 presented by the applicant countries (which highlight the efforts made to participate in EU multilateral surveillance and the coordination of economic policies), the latter are advised to: - adopt energetic measures to remedy the weakness of their budget situation and attain a high and sustainable level of real growth, to guarantee rapid economic convergence with the EU; - take forward structural reforms and keep an eye on potential external risks (given their dependence on imports and the sensitivity of their exports to international growth and that of the EU).
In several countries, the budget deficit remains very high, which means that a great deal of determination will be needed to achieve budgetary consolidation and a viable budget situation in the medium term, state the conclusions, which mention in particular Hungary, Poland, Czech Republic and Malta. Certain applicant countries should also make efforts to improve price stability and exchange rates.
Other Council results: conclusions in which the Ministers confirm that an agreement has been found on the final technical aspects of preparation of enlargement of the European Central Bank (ECB) and the European Investment Bank (EIB). The candidate countries will thus have to contribute from the time of accession to the increase in the ECB's capital and reserve. As for the EIB, it was agreed that the decisions of the Committee of Directors would have to be taken by at least one third of voting members and that this majority must represent at least 50% of the capital.