The European Commission (EC) recently released its European Semester 2017 Spring Package, which includes country-specific recommendations for taking advantage of sustained recovery and spurring increased sustainable growth.
"The EU is growing and will continue to enjoy this positive trend in 2018 for the sixth year in a row,” Pierre Moscovici, commissioner for economic and financial affairs, taxation and customs, said in a press release. “Yet the recovery is uneven and still vulnerable. We need to use all available tools to support growth, and that includes smart economic reforms as well as an intelligent application of fiscal policy.”
The priorities identified by the EC are customized for the individual economic and social situations in each member state, but common priorities include promoting investment and implementing structural reforms that will support fiscal responsibility and, therefore, economic resiliency.
“Economic trends are overall positive and we should use this window of opportunity to make European economies more competitive, resilient and innovative,” EC Vice President Valdis Dombrovskis, who manages the Euro and Social Dialogue portfolio, said. “Priority should be given to reforms that can make growth more inclusive and reinvigorate productivity. Structural reforms, investment and continued attention to responsible fiscal policies are indispensable to strengthen and sustain economic recovery in the EU."