council opinion februari updat stabil programm ireland council european union regard treati establish european commun regard council regul ec juli strengthen surveil budgetari posit surveil ordin econom polici articl thereof regard recommend commiss consult econom financi committe deliv opinion februari council examin updat stabil programm ireland cover period updat programm larg compli data requir revis quot code conduct quot content format stabil converg programm budgetari strategi underli updat base broadli stabilis govern balanc onward lower rate increas public spend expenditur control lead cut expenditur gdp ratio offset mark declin revenu ratio reflect bring forward capit gain tax receipt current year basi technic assumpt decreas quot revenu quot share gdp programm tax cut time signific programm public invest implement updat project real gdp growth acceler estim averag hicp inflat forecast declin rapidli stabilis basi inform macroeconom scenario underli updat realist updat target gener govern deficit gdp compar expect deficit cyclic adjust term base commiss calcul commonli agre methodolog take account relat capit gain tax improv percentag point gdp project deficit gdp nomin term gdp cyclic adjust term debt ratio project stabilis gdp stabil growth pact medium term object budgetari posit close balanc achiev end programm period risk trend budgetari project number factor born mind stronger expect tax revenu posit impact budget balanc previou updat budgetari project final year incorpor quot conting provis quot unforeseen develop eventu fulli spent estim output gap cyclic adjust balanc present unusu margin uncertainti due special featur irish economi time note project nomin deficit gdp coincid return ireland sustain growth rate final note project balanc reflect signific extent implement intens programm public invest govern invest gnp ratio averag programm period compar eu averag budgetari stanc programm provid suffici safeti margin breach gdp deficit threshold normal macroeconom fluctuat basi current polici ireland sustain path risk due ag popul emerg long run order address risk measur adopt reform pension area relat public servic addit note irish debt ratio low asset built rate gnp annual nation pension reserv fund specif meet cost ag secur adequ primari surplu essenti ensur public financ sustain foot econom polici reflect updat programm broadli consist recommend broad econom polici guidelin specif budgetari implic system multi annual budget extend capit spend reform health care system address monei concern progress made roll nation develop plan oj