Despite reduction in government deficit and improvement in employment the sustainability problem remains unchanged. The social and health care reform will not fix this. The deficit continues to decrease, but from a long run perspective…
Improved economic growth and favorable development of the labor market situation have improved the state of public finances. In the current state of the business cycle, the government should adopt a stricter fiscal policy. The…
The 72% employment rate target set by the government will not be reached. The failure to meet the employment target will make it difficult to meet targets for the public sector deficit and debt. According…
The government’s fiscal policy is one of gradual tightening and government spending cuts of almost four billion euros over the government term. Tightening fiscal policy will dampen economic growth, but is essential since government spending…
The Council does not recommend a further tightening of fiscal policy for 2015 and 2016. Significant adjustments of public finances are necessary, but they should be timed in such a way that business cycles are…