council opinion march updat stabil programm greec 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 greec cover period decad driven robust product growth real gdp growth greec averag highest eu sustain robust growth led strong real converg accompani dramat fall hicp inflat remain eu averag rise extern imbal gener govern deficit spite high growth remain averag gdp attain gdp larg line oper contribut accumul public debt remain close gdp ten year juli council decid greec excess deficit februari council decid give notic greec accord articl correct excess deficit commiss servic autumn forecast underli decis expect deficit reach gdp opinion april march revis updat stabil programm cover period council invit greec implement perman measur correct excess deficit latest reduc cyclic adjust deficit gdp onward ensur faster debt reduct path implement enact pension reform ensur sustain public financ improv collect process gener govern data updat estim deficit gdp compar estim gdp commiss servic autumn forecast previou updat differ reflect carri effect septemb revis deficit outcom notabl lead revis deficit gdp commiss servic autumn forecast includ revenu announc securitis oper place updat submit decemb week deadlin code conduct content format stabil converg programm programm broadli model structur data provis requir stabil converg programm code conduct macroeconom scenario underli programm expect real gdp growth pick averag rest programm period assess inform scenario appear base favour growth assumpt project evolut growth medium term appear high side impli high estim potenti output growth programm project inflat realist updat budgetari strategi aim reduc deficit gdp threshold complianc council notic articl pursu fiscal consolid balanc budget fiscal correct frontload deficit declin gdp time profil primari surplu similar improv gdp project adjust achiev higher tax revenu cut expenditur interest payment public consumpt revenu worth gdp envisag favour macroeconom scenario partli explain frontload adjust current updat compar previou calcul commiss servic basi data programm commonli agre methodolog structur balanc gener govern budget cyclic adjust term net temporari measur project improv gdp gdp provid reduct gdp year updat set medium term object mto budgetari posit meant stabil growth pact balanc budget structur term updat envisag achiev mto identifi programm demand minimum benchmark estim achiev fulfil aim provid safeti margin occurr excess deficit mto set programm level current assess li rang euro area erm ii member state stabil growth pact code conduct adequ reflect debt ratio averag potenti output growth long term budgetari outcom wors project programm risk favour macroeconom scenario inform measur envisag end programm lack pend statist issu eurostat estim surplus social secur fund local govern lead upward revis deficit figur carri effect off plan pend eurostat classif deficit reduc base current inform condit risk greec broadli track correct excess deficit deadlin set council plan deficit consist rigor implement budget budget target deficit gdp includ revenu worth gdp excess deficit correct perman basi structur correct minimum gdp requir council contrast correct gdp greec enjoi econom situat good time calcul commiss servic basi data programm commonli agre methodolog cyclic adjust budget balanc expect respect minimum benchmark programm period debt ratio estim reach gdp gdp treati refer programm project debt ratio declin eleven percentag point programm period driven project improv primari surplus lower debt increas financi oper evolut debt ratio favour project programm risk budgetari target mention uncertainti stock flow adjust tend larg predominantli debt increas past view risk assess debt ratio suffici diminish refer regard sustain public financ greec appear high risk ground project budgetari cost ag popul debt ratio highest eu project remain high level project period implement rigor plan consolid public financ medium term strengthen budgetari posit order reduc risk public financ sustain time project increas govern expenditur notabl pension project period expect put high burden public financ end resolut implement measur enact design carri addit structur reform notabl pension reduc risk public financ sustain envisag measur area public financ broadli consist broad econom polici guidelin includ integr guidelin period programm consist guidelin secur econom stabil ii safeguard econom fiscal sustain iii promot growth employ orient effici alloc resourc action tackl import challeng pension system postpon futur social agreement nation reform programm greec submit octob context renew lisbon strategi growth job identifi challeng signific implic public financ long term sustain public financ ii employ educ iii busi environ competit iv amp innov budgetari implic fulli reflect updat measur area public financ envisag stabil programm broadli line action foreseen nation reform programm programm outlin measur reduc corpor tax rate fight tax evas reform properti taxat rationalis healthcar spend view assess council welcom effort undertaken prioriti govern perman reduct deficit council note programm consist correct excess deficit subject full implement envisag adjust condit effect plan deficit statist revis budgetari data light recommend made council articl februari council invit greec implement perman measur lead correct excess deficit latest ii pursu reduct deficit structur term mto set programm take advantag good econom time reduc primari spend iii enhanc effort identifi control factor net borrow contribut chang debt level order ensur debt ratio suffici diminish approach refer satisfactori pace iv control public pension expenditur resolut implement approv pension reform carri addit structur reform ensur long term sustain public financ improv collect process gener govern data notabl enhanc mechan ensur prompt correct suppli budgetari data social secur 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 march hicp inflat sp dec nov sp march output gap potenti gdp sp dec nov sp march gener govern balanc gdp sp dec nov sp march primari balanc gdp sp dec nov sp march cyclic adjust balanc gdp sp dec nov sp march structur balanc gdp sp dec nov sp march govern gross debt gdp sp dec nov sp march oj regul amend regul ec oj document refer text found websit http europa eu int comm economi financ activ sgp main en htm figur includ gdp eur million reimburs european region develop fund genuin expenditur consider impact fiscal effort adjust path programm gap compulsori data exchang rate present term eur usd nomin effect exchang rate provid option data prescrib code conduct detail long term sustain provid technic assess programm commiss servic http europa eu int comm economi financ activ sgp main en htm commiss servic calcul basi inform programm cyclic adjust balanc previou row exclud temporari measur temporari measur programm gdp temporari measur commiss servic autumn forecast gdp base estim potenti growth period