council opinion februari updat stabil programm belgium 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 februari council examin updat stabil programm belgium cover period programm broadli compli data requir quot code conduct content format stabil converg programm quot programm includ compulsori interest rate assumpt belgium invit achiev full complianc data requir macroeconom scenario underli programm envisag real gdp growth slow end programm period basi inform scenario reflect plausibl growth assumpt programm project inflat realist budgetari strategi outlin updat aim maintain balanc budget small surplu debt ratio downward trend prepar budgetari impact ag popul updat project balanc budget surplu gdp compar previou updat end current updat broadli confirm plan adjust broadli unchang macroeconom scenario impact ongo implement direct tax reform higher public invest run local elect primari surplu project fall slightli rise programm forese declin interest burden result ongo debt reduct revenu expect decreas remain stabl primari expenditur decreas slightli cyclic adjust balanc base inform programm commonli agre methodolog project remain posit programm period decreas surplu gdp pick risk budgetari project programm broadli balanc belgian govern announc measur order budget balanc decreas gdp result continu implement direct tax reform fact budget benefit seri smaller oper total gdp macroeconom scenario plausibl belgian govern balanc remain sensit econom growth sensit final risk control primari expenditur level social secur system overrun record health care system high annual real growth target suggest continu strong growth expenditur measur announc end reduc cost health care total gdp effect difficult evalu hand larger part minist social affair mandat measur prior parliamentari consult enabl quick respons overrun gener belgian govern gain credibl keep commit measur maintain balanc budget view risk assess risk budgetari target broadli balanc budgetari stanc programm suffici adher stabil growth pact medium term object budgetari posit close balanc surplu addit suffici margin risk breach gdp refer deficit event normal cyclic fluctuat year debt ratio estim reach gdp gdp treati refer programm project debt ratio declin percentag point programm period gdp figur includ assumpt eur billion debt gdp nation railwai compani sncb integr sncb debt slow debt reduct plan debt reduct faster schedul previou updat regard long term sustain public financ belgium appear risk ground current level gross debt declin debt ratio high steadi reduct hing sustain high primari surplus prolong period strategi cope budgetari cost ag popul outlin programm base gross debt reduct maintain balanc budgetari posit small surplu reli primarili primari expenditur restraint ag fund primari expenditur prove difficult health care sector import view govern strategi reduc tax burden order creat employ project increas ag depend ratio pursu broad strategi determin crucial achiev long term sustain econom polici outlin updat broadli consist countri specif broad econom polici guidelin area public financ updat ensur debt ratio sustain declin trend view recent overrun health care spend target growth rate real term set high annual rate risk exist breach guidelin limit real expenditur growth entiti feder govern social secur maintain high primari surplus limit real expenditur growth import view financi impli ag real gdp chang sp dec oct sp nov hicp inflat sp dec oct sp nov gener govern balanc gdp sp dec oct sp nov primari balanc gdp sp dec oct sp nov cyclic adjust balanc gdp sp dec oct sp nov govern gross debt gdp sp dec oct sp nov oj