Traduction de «meet the deficit targets » (Anglais → Français) :

While noting with satisfaction that the EU is on track to meet its 2020 target, expresses its concern at the large number of countries (Belgium, France, Luxembourg, Malta, the Netherlands, Spain and the United Kingdom) which, according to the Commission’s 2015 Renewable Progress Report 2014-2020 estimates, may have to strengthen their policies and tools to ensure they meet their 2020 objectives, while achievement thereof is also not certain in the case of Hungary and Poland; calls on Member States that are lagging behind to undertake additional measures to get back on track; welcomes the fact that some Member States have already met or ...[+++] will very shortly meet their 2020 targets, well ahead of time, such as Bulgaria, the Czech Republic, Denmark, Estonia, Croatia, Italy, Latvia, Lithuania, Austria, Romania, Finland and Sweden.

As a result, changes should be made in the areas of financial sector reform, fiscal policy and structural reforms, in particular with regard to: (i) providing an updated plan for the gradual relaxation of external restrictions, which the authorities commit to starting only after the successful completion of the comprehensive assessment and a smooth transition to the Single Supervisory Mechanism (SSM); (ii) further measures to strengthen the banks' management of non-performing loans; (iii) a requirement to conclude the follow-up on the 2013 audit regarding individual financial institutions, impose sanctions if applicable, and make the final decision public; (iv) the provision of further measures to improve the Cooperative Group's operatio ...[+++]nal capacity; (v) the adoption by the Council of Ministers of the new comprehensive framework establishing appropriate corporate and personal insolvency procedures, as well as the adoption by the House of Representatives of the amendments to the legal framework in relation to foreclosures of mortgaged properties (those are two prior actions), with details on the required elements of those two new frameworks; (vi) a revision of the 2014 primary fiscal deficit target of no more than EUR 210 million (1,3 % of GDP) to reflect the fiscal performance in the first half of 2014, the submission of a proposal ensuring the fiscal neutrality of the welfare system reform and the achievement of the 2015 fiscal deficit target, while the primary surplus target for 2017 was revised down to 2,5 % of the GDP in order to smooth the fiscal adjustment over 2017-2018; (vii) the setting of further steps to operationalise the privatisation process in the Cyprus Ports Authority and the Electricity Authority of Cyprus; (viii) the appointment of the new Commissioners and the two Assistant Commissioners of the new tax department, the establishment of a common taxpayer database, and the adoption of necessary regulations to make the enhanced collection powe ...

In 2012, the general government deficit declined further to 1,2 % of GDP, thus overachieving the deficit target of 2,1 % of GDP set in the Convergence Programme for 2012 to 2016 and well below the 3 %-of-GDP Treaty reference value.

As regards budgetary implementation in 2005, the December 2005 update estimates that the general government deficit fell to 1,2 % of GDP against a deficit target of 2,6 % of GDP set in the November 2004 update of the stability programme and a deficit projection of 1,8 % of GDP in the Commission services' autumn 2005 forecast.

The Hungarian authorities were asked to undertake the following steps in particular: (i) to put an end to the excessive deficit situation by 2012 in a credible and sustainable manner; (ii) to undertake an additional fiscal effort of at least ½ % of GDP to ensure the attainment of the 2012 deficit target of 2,5 % of GDP; and (iii) to take the necessary additional measures of a structural nature to ensure that the deficit in 2013 remains well below the 3 % of GDP threshold.

After meeting the 1998 target for the general government deficit, Hungary continued to tighten fiscal policy and to increase the transparency of the budget through the abolition of the many separate state funds and the establishment of a contingency reserve in case GDP growth slowed down or the external accounts deteriorated more than envisaged.