council opinion februari updat converg programm denmark 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 denmark updat converg programm cover period updat converg programm forese gener govern budgetari surplus gdp entir period project gross consolid debt reduc gdp budget surplu turn higher earlier project amount gdp due stronger expect growth macroeconom scenario assum updat programm project real gdp growth upward revis slow annual council note growth scenario lower previou updat programm assumpt product rise moder intern comparison robust perform danish economi recent year buoyant invest equip structur reform undertaken stronger growth product perform expect moder product rise impli loss cost competit danish compani rel wage increas turn high inflat rate start rise remain high updat programm expect inflat gradual declin extern induc price rise taper wage growth turn slightli moder light weaker domest demand growth council consid inflationari outlook assum updat programm plausibl council reiter recommend danish govern action case signific upward deviat includ budgetari erm membership limit monetari polici room manoeuvr address inflationari pressur council note satisfact denmark continu fulfil converg criterion long term interest rate exchang rate remain stabl vi vi euro referendum septemb govern financ council welcom danish author maintain ambit larg budgetari surplus result denmark continu fulfil requir stabil growth pact budgetari posit quot close balanc surplu quot entir period cover programm budgetari consolid strategi outlin previou updat programm larg upheld declin primari expenditur gdp ratio tax burden programm period year updat programm project small increas primari expenditur ratio tax burden council prefer declin ratio implement disrupt council call level gener govern make effort limit real increas public consumpt target annual local region govern expect rais tax agreement central govern agreement central lower level govern aim restrict increas public consumpt tax frequent exceed past council invit danish govern line recommend broad econom polici guidelin strengthen institut framework avoid slippag futur council welcom danish author ambit continu substanti lower ratio gross debt gdp view prepar forthcom financi burden ag popul focu longer term sustain issu updat programm welcom council encourag danish govern continu effort prepar cater ag popul council invit danish author maintain promin place structur reform polici agenda effort rais labour suppli prove council encourag author lower tax labour incom tax reduct plan danish economi oper level slightli potenti tax cut compens offset budgetari measur order add risk overh oj council opinion februari updat converg programm denmark period