council opinion februari updat stabil programm belgium 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 stabil programm belgium cover period belgium real annual gdp growth decad close averag slightli euro area averag employ rate low unemploy characteris signific region dispar high level long term unemploy belgium maintain budgetari posit balanc opinion februari council endors budgetari strategi present updat stabil programm belgium budgetari implement commiss servic autumn forecast project balanc gener govern budget line target previou updat stabil programm significantli lower gdp growth statist record transact clarifi eurostat lead larg increas deficit outcom neg impact budgetari outcom period updat programm broadli model structur data provis requir stabil converg programm code conduct macroeconom scenario underli programm envisag real gdp growth pick averag rest programm period assess inform scenario appear base plausibl growth assumpt programm project inflat realist budgetari strategi outlin programm aim keep balanc gener govern posit build surplus gdp order maintain debt ratio downward trend gradual declin gdp primari surplu stabilis gdp onward programm forese decreas govern revenu result reduct tax burden labour compens cut expenditur ratio interest expenditur updat larg confirm budgetari strategi outlin previou programm broadli similar growth outlook programm period structur balanc cyclic adjust balanc net temporari measur calcul commonli agre methodolog plan improv gdp author set medium term object mto budgetari posit structur surplu gdp aim achiev posit mto demand minimum benchmark estim deficit gdp achiev fulfil aim provid safeti margin occurr excess deficit mto consid current assess li rang euro area erm ii member state stabil growth pact code conduct demand impli debt ratio averag potenti output growth long term budgetari outcom risk wors project programm macroeconom scenario consid plausibl govern recent introduc measur control health care expenditur tax revenu envisag programm slightli optimist expenditur project base plausibl macroeconom assumpt provid buffer advers develop programm explain compens expir temporari measur acknowledg belgian author recent past demonstr strong commit achiev balanc budget target view risk assess budgetari stanc programm suffici ensur programm mto achiev envisag programm state programm mto demand requir stabil growth pact budgetari strategi suffici achiev budgetari posit structur term consid pact programm addit budgetari stanc programm provid suffici safeti margin breach gdp deficit threshold normal macroeconom fluctuat programm adjust path reach mto averag annual improv structur balanc small pace adjust ambiti mto consid broadli structur balanc plan deterior gdp debt ratio estim reach gdp end gdp treati refer programm project debt ratio declin percentag point gdp programm period gdp evolut debt ratio favour project programm downsid risk materialis debt ratio suffici diminish refer approach rapid pace regard sustain public financ belgium appear medium risk ground project budgetari cost ag popul sustain high primari surplus prolong period time current level gross debt declin remain refer steadi reduct debt ratio foreseen updat belgian strategi put longer term concern heart fiscal polici includ reduc debt undoubtedli allevi sustain risk quot ag fund law quot reinforc polit commit set legal bind budgetari target recent measur aim increas effect retir ag employ ratio contribut posit sustain current budgetari posit suffici cover fulli substanti increas expenditur due ag popul underlin import maintain larg primari surplus come year envisag measur area public financ broadli consist broad econom polici guidelin includ integr guidelin period debt ratio reduc satisfactori pace reform undertaken improv sustain social secur system deterior structur balanc fulli line integr guidelin call take correct measur achiev mto nation reform programm nrp belgium submit octob context renew lisbon strategi growth job identifi challeng signific implic public financ support employ reduc tax burden labour ii gener govern budget close balanc start build surplus onward order maintain debt ratio downward trend budgetari implic action outlin nrp suffici budgetari project stabil programm measur area public financ envisag stabil programm broadli line action foreseen nrp view assess council opinion budgetari posit sound continu debt reduct high level envisag programm fiscal polici conduct complianc pact relianc measur begin period underlin front load structur consolid council invit belgium measur avoid deterior structur balanc implement requir measur reach ambiti budgetari target subsequ year 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 dec hicp inflat sp dec nov sp dec output gap potenti gdp sp dec nov sp dec gener govern balanc gdp sp dec nov sp dec primari balanc gdp sp dec nov sp dec cyclic adjust balanc gdp sp dec nov sp dec structur balanc gdp sp dec nov sp dec govern gross debt gdp sp dec nov sp dec oj regul amend regul ec oj document refer text found websit http europa eu int comm economi financ activ sgp main en htm time reorganis belgian railwai increas govern debt gdp treat direct impact govern deficit securitis tax arrear gdp record deficit reduc programm separ section institut featur public financ inform issu provid section gap compulsori data 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 base potenti growth period cyclic adjust balanc previou row exclud temporari measur temporari measur programm gdp deficit reduc figur measur onward provid belgian author submiss programm caveat quot consid assumpt prejudg decis belgian author quot temporari measur commiss servic autumn forecast gdp deficit reduc