council decis novemb establish accord articl treati establish european commun action hungari respons recommend council march pursuant articl treati prove inadequ ec council european union regard treati establish european commun articl thereof regard recommend commiss articl treati member state avoid excess govern deficit stabil growth pact base object sound govern financ mean strengthen condit price stabil strong sustain growth conduc employ creation stabil growth pact includ council regul ec juli speed clarifi implement excess deficit procedur adopt order prompt correct excess gener govern deficit resolut european council stabil growth pact amsterdam june solemnli invit parti member state council commiss implement treati stabil growth pact strict time manner council decis ec juli council decid accord articl excess deficit exist hungari accord articl treati articl regul ec juli council adopt recommend address hungarian author call bring exist excess deficit end rapidli action medium term framework achiev object bring deficit gdp credibl sustain manner accord path deficit reduct converg programm submit author endors opinion council juli recommend establish deadlin novemb hungarian govern effect action measur envisag achiev origin deficit target gdp januari accord articl treati basi recommend commiss council recognis number measur reduc govern deficit deadlin novemb consid suffici achiev target avoid deviat plan adjust path hungarian converg programm consid continu commit govern correct excess deficit need underpin decis measur fiscal consolid determin pursuit structur reform background council decid hungari effect action novemb respons recommend juli accord articl treati articl regul ec march council adopt recommend address hungarian author call bring exist excess deficit end rapidli action medium term framework achiev object bring deficit gdp credibl sustain manner accord path deficit reduct converg programm updat submit hungarian author decemb endors opinion council march thing recommend establish deadlin juli hungarian govern effect action measur envisag achiev deficit target gdp juli commiss adopt commun hungari basi inform time includ correct measur decid govern march june total gdp compens slippag firm commit hungarian govern carri measur state hungarian author effect action deadlin juli situat remain fragil measur need futur recent develop show action hungarian author prove inadequ target gdp refer recommend council endors opinion council march decemb updat converg programm miss sizeabl margin govern decid action correct slippag contrari earlier commit confirm revis edp notif hungarian author septemb deficit gdp outcom wors slippag occur exclud expenditur side compens correct measur notif debt gdp ratio remain threshold target contain converg programm updat recommend adopt council march deficit brought gdp abandon author substanti higher target gdp contain draft budget miss absenc substanti expenditur reduct plan tax reform expect reduc revenu gdp recent adopt draft budget comprehens measur structur natur support substanti reduct expenditur implement tax cut contrari recommend council time implement tax cut made condit achiev deficit target converg programm updat submit decemb substanti deviat hungari deficit adjust path aim correct excess deficit set hungarian govern endors recommend council march put question credibl correct slow progress structur reform jeopardis need improv macroeconom imbal line resolut european council stabil growth pact hungari agre make council recommend march public adopt decis articl action hungari prove inadequ respons recommend council march articl decis address republ hungari brussel novemb council presid brown oj regul amend regul ec oj oj http ue eu int uedoc cm data doc pressdata en ecofin pdf page oj http regist consilium eu int pdf en st st en pdf page http regist consilium eu int pdf en st st en pdf page http europa eu int comm economi financ activ sgp edp ass hu dec en pdf differ previou target gdp base increas contribut pillar pension scheme percentag point gdp march fiscal notif includ standard record purchas militari aircraft add gdp announc deficit target gdp