council opinion march updat stabil programm ireland council european union regard treati establish european commun regard council regul ec juli strengthen surveil budgetari posit surveil coordin econom polici articl thereof regard recommend commiss consult econom financi committe deliv opinion march council examin updat stabil programm ireland cover period ireland experienc impress rapid increas real gdp capita employ level decad recent year irish economi continu grow highest rate euro area employ rise inflat converg rapidli euro area averag budgetari develop fiscal posit broadli sound gener govern balanc record surplus year decad debt ratio fall significantli gdp opinion februari council endors budgetari strategi present previou updat stabil programm cover period budgetari implement previou updat target gener govern deficit gdp current updat estim surplu downward revis growth main reason outcom initi target found revenu side programm broadli model structur data provis requir stabil converg programm code conduct macroeconom scenario underli programm envisag real gdp growth remain narrow rang programm period assess inform scenario appear base plausibl growth assumpt current pictur suggest broadli healthi condit economi robust growth continu downsid risk macroeconom outlook medium term relat global econom prospect open economi domest sharp downturn extend residenti construct boom programm project hicp inflat low side updat confirm commit irish govern maintain sound public financ start gdp surplu budgetari strategi envisag gener govern deficit gdp final year programm primari surplu fall gdp year revenu gdp ratio declin trend expenditur ratio initi increas fall back level end programm period invest gdp ratio project increas percentag point gdp period expect outturn updat broadli confirm budgetari target previou programm fiscal expans plan structur balanc cyclic adjust balanc net temporari measur calcul commonli agre methodolog plan stabilis gdp rest programm period programm set medium term object mto budgetari posit structur posit close balanc plan maintain structur posit satisfi programm mto programm period programm mto demand minimum benchmark estim deficit gdp achiev fulfil aim provid safeti margin occurr excess deficit appropri programm mto li rang euro area erm ii member state stabil growth pact code conduct demand impli debt ratio averag potenti output growth long term budgetari outcom project programm revenu forecast impli cautiou assumpt tax project programm expenditur side capit outlai turn plan alloc risk budgetari target stem macroeconom project updat neutral broadli line commiss servic evalu budgetari project vulner downsid macroeconom risk medium term realis view risk assess budgetari stanc programm suffici maintain programm mto programm period envisag programm addit suffici safeti margin breach gdp deficit threshold normal macroeconom fluctuat year debt ratio gdp earli estim reach gdp gdp treati refer programm project debt ratio stabilis level programm period absenc acquisit gener govern asset nation pension reserv fund nprf debt ratio fall significantli programm period regard sustain public financ ireland appear medium risk ground project budgetari cost ag popul sound budgetari posit conjunct low debt level accumul asset nation pension reserv fund help partli offset signific rise ag relat govern expenditur notabl pension project long term ireland recent enact reform pension system public servant author envisag measur contribut sustain basi provis public servic pension commit monitor adequaci contribut rate regular actuari review help implement addit measur aim eas budgetari impact ag popul long term import element reduc risk sustain public financ envisag measur area public financ broadli consist broad econom polici guidelin includ integr guidelin period ireland respect mto updat overview govern structur reform programm contribut enhanc qualiti public servic increas effici public spend address infrastructur irish economi nation reform programm ireland submit octob context renew lisbon strategi growth job identifi challeng signific implic public financ continu prioritis public invest econom social infrastructur growth enhanc expenditur ii maintain stabl macroeconom environ sustain public financ ensur moder inflat level budgetari implic polici direct outlin nation reform programm reflect budgetari project stabil programm measur area public financ envisag stabil programm line action foreseen nation reform programm stabil programm complement measur propos institut featur public financ includ innov budgetari estim process council opinion budgetari posit sound budgetari strategi good fiscal polici complianc stabil growth pact council invit ireland continu implement measur address long term budgetari implic ag popul comparison kei macroeconom budgetari project note sourc stabil programm sp commiss servic autumn econom forecast commiss servic calcul real gdp chang sp dec nov sp dec hicp inflat sp dec nov sp dec output gap potenti gdp sp dec nov sp dec gener govern balanc gdp sp dec nov sp dec primari balanc gdp sp dec nov sp dec cyclic adjust balanc gdp sp dec nov sp dec structur balanc gdp sp dec nov sp dec govern gross debt gdp sp dec nov sp dec oj regul amend regul ec oj document refer text found websit http europa eu int comm economi financ activ sgp main en htm programm compulsori data prescrib code conduct option data miss commiss servic calcul basi inform programm commiss servic autumn forecast pre date decemb budget updat stabil programm base cyclic adjust balanc previou row exclud temporari measur temporari measur programm gdp surplu decreas estim off provid irish depart financ gdp gdp surplu increas temporari measur commiss servic autumn forecast gdp surplu decreas base estim potenti growth period