Traduction de «ajustement déficit-dette » (Français → Anglais) :

deficit-debt adjustment

adjustment of debt | debt adjustment

deficit/debt-to-GDP ratio

benchmark for debt reduction | debt benchmark | debt ratio adjustment benchmark | debt reduction benchmark

amortization adjustment factor

amortization adjustment factor

total of adjustments made to allow for service account deficits

The recommendations require Member States' action on the implementation of reforms in order to boost investment, pursue structural reforms and ensure responsible fiscal policies; recommendations to the Council to abrogate the Excessive Deficit Procedures (EDP) (under Article 126(12) of the Treaty on the Functioning of the European Union (TFEU)) for Croatia and Portugal as these countries have brought their deficits below the 3% of GDP Treaty reference value; reports on Belgium and Finland under Article 126(3) TFEU, reviewing their compliance with the debt criterion of the Treaty in 2016; a confirmation concerning Italy that the requested additional fiscal measures for 2017 have been delivered and that therefore no further steps are deeme ...[+++]d to be necessary for compliance with the debt criterion at this stage; a recommendation to the Council with a view to giving a warning to Romania on the existence of a significant observed deviation from the adjustment path toward the medium-term objective in 2016, as well as a recommendation to the Council with a view to correcting the significant observed deviation from the adjustment path toward the medium-term objective (under Article 121(4) TFEU and Article 10(2) of Regulation (EC) No 1466/97); the conclusion that, based on the assessment of reform policy commitments of Cyprus, Italy and Portugal, there is no need at this stage to step up the macroeconomic imbalance procedure, provided that the countries swiftly and fully implement the reforms set out in their country-specific recommendations.

EUROVOC descriptor: macroeconomics economic recession economic growth budget deficit budget deficit EU control public debt public debt economic stabilisation economic stabilisation banking system coordination of EMU policies economic reform Cyprus structural adjustment euro area stability programme medium-term financial assistance Eurogroup (euro area) financial aid

42. Welcomes the reduction of structural deficits in all programme countries since the start of their respective assistance programmes; regrets that these have not yet led to a reduction in the ratios of public debt to GDP; notes that the ratio of public debt to GDP has instead sharply increased in all programme countries, as the receipt of conditional loans naturally leads to an increase of public debt and as policy implemented has a recessive impact in the short term; further believes that the accurate estimation of fiscal multipliers is of crucial importance for fiscal adjustment to be successful in reducing the debt-to-GDP ratio; ...[+++] notes that progression towards more sustainable levels of private debt is also necessary for long-term stability; acknowledges that it typically takes several years before structural reforms can make a significant contribution to raising output and employment;

1. A Member State requesting or receiving financial assistance from one or several other States, the IMF, the EFSF, the EFSM or the ESM shall prepare in agreement with the Commission - acting in liaison with the ECB and, where appropriate, with the IMF - a draft macroeconomic adjustment programme which shall build on and substitute any economic partnership programmes under Regulation (EU) No ./2012 [on common provisions for monitoring and assessing draft budgetary plans and ensuring the correction of excessive deficit of the Member States in the euro area], which shall also include annual budgetary target. The draft macroeconomic adjustm ...[+++]ent programme shall addresses the specific risks emanating from that Member State for the financial stability of the euro area and shall aim at rapidly re-establishing a sound and sustainable economic and financial situation and restoring its capacity to finance itself fully on the financial markets. The draft macroeconomic adjustment programme shall be based on the assessment of the sustainability of the government debt and shall take due account of the recommendations addressed to the Member State concerned under Articles 121, 126, 136 and/or 148 TFEU - and its actions to comply with them - while aiming at broadening, strengthening and deepening the required policy measures. The draft macroeconomic adjustment programme shall respect the practices and institutions for wage formation and industrial relations in the Union and shall, where possible, take into account the national reform programme of the Member State concerned in the context of the Union strategy for growth and jobs. The draft macroeconomic adjustment programme shall fully observe Article 151 TFEU and Article 28 of the Charter of Fundamental Rights of the European Union.