ZAGREB, December 18, 2019 – The European Commission on Tuesday recommended a detailed analysis be conducted next year of possible macroeconomic imbalances in 13 member states, including Croatia.
After its meeting in Strasbourg, the Commission released the Annual Growth Survey, the Alert Mechanism Report and the Single Market Scoreboard, marking the new cycle of the European Semester, a mechanism for the coordination of economic policies within the Union. The Single Market Scoreboard was included in the European Semester cycle for the first time.
The Alert Mechanism Report, which serves as a tool to detect any macroeconomic imbalances, says that 13 member states will be subject to a detailed review in 2020 as well. These are the same countries that were covered by the same procedure last year: Bulgaria, Croatia, Cyprus, France, Germany, Greece, Ireland, Italy, the Netherlands, Portugal, Romania, Spain and Sweden.
In February this year, the Commission confirmed that Croatia was no longer experiencing excessive macroeconomic imbalances, but only macroeconomic imbalances.
The Commission will present the results of the analysis in country reports in February or March 2020. It will then decide whether to start a corrective mechanism to remedy the macroeconomic imbalances based on an assessment of whether the government’s reform programme is ambitious enough to correct the imbalances.
More news about Croatia and the EU can be found in the Business section.
