council opinion februari updat converg programm malta 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 converg programm malta cover period programm broadli compli code conduct breakdown forecast public expenditur figur price data consist maastricht harmonis definit malta invit achiev complianc data requir macroeconom scenario underli programm envisag real gdp growth pick averag rest programm period basi inform scenario reflect plausibl growth assumpt programm project inflat realist juli council decid excess deficit exist malta recommend correct programm aim reduc deficit gdp refer fiscal consolid base revenu rise measur expenditur cut gener govern deficit project fall gdp declin gdp compar previou programm current updat broadli confirm plan adjust broadli unchang macroeconom scenario risk budgetari project programm broadli balanc hand fiscal target gener govern deficit reach prudent underli macroeconom scenario natur announc measur aim reduc deficit budgetari project set programm make consolid path broadli plausibl project extern environ view risk assess budgetari stanc programm suffici reduc deficit gdp provid suffici safeti margin breach threshold normal macroeconom fluctuat programm period suffici ensur stabil growth pact medium term object budgetari posit close balanc achiev programm period programm debt ratio reach gdp gdp project declin cent gdp end programm period maltes author forese econom growth progress improv primari balanc sale asset drive reduct debt gdp ratio number factor partial offset effect signific privat proce gdp call detail inform closer monitor line oper risk regard long term sustain public financ reflect project cost ag popul strategi ensur sustain outlin programm depend achiev budgetari target includ reform pension healthcar system defin implement failur achiev budgetari target put sustain risk pursuit reform process import contain increas ag relat public expenditur long term econom polici outlin updat broadli consist countri specif broad econom polici guidelin area public financ programm line reduct gener govern deficit recommend council view assess council opinion malta ensur correct excess deficit ii ensur debt ratio declin gdp treati refer satisfactori pace iii make progress design implement pension health care reform real gdp chang cp dec oct cp hicp inflat cp dec oct cp gener govern balanc gdp cp dec oct cp primari balanc gdp cp dec oct cp govern gross debt gdp cp dec oct cp oj