council opinion februari updat stabil programm franc council european union regard treati establish european commun regard council regul ec juli strengthen surveil budgetari posit surveil ordin econom polici articl thereof regard recommend commiss consult econom financi committe deliv opinion februari council examin updat stabil programm franc cover period updat programm larg compli requir revis quot code conduct quot content format stabil converg programm compulsorili requir code conduct presenc programm explicit project gener govern revenu expenditur categori nation account basi allow deeper analysi qualiti project budgetari adjust june basi commiss recommend council decid accord articl ec excess deficit exist franc issu recommend base articl ec request franc bring situat end latest octob commiss adopt recommend basi articl council decid effect action franc respons recommend june give notic franc measur bring govern deficit gdp latest novemb council adopt commiss recommend adopt set conclus endors thing commit made franc reduc cyclic adjust deficit cent gdp cent gdp larger amount ensur gener govern deficit brought cent gdp medium term project updat programm base budgetari strategi adopt previou updat cornerston strategi set multi annual target increas real govern expenditur impli fall expenditur gdp ratio declin gener govern deficit updat strategi complement budgetari rule higher expect revenu stem favour cyclic develop alloc deficit reduct budgetari margin stem slower plan increas expenditur alloc tax relief strategi base clear norm expenditur growth support transpar budgetari adjust respect abil state expenditur demonstr posit previous set expenditur target gener govern social secur miss larg margin measur order improv complianc expenditur target impact deficit outcom respect expenditur ceil repeat damag credibl budgetari strategi relev norm anchor order secur attain object french author introduc mechan ensur automat compens year eventu overspend govern sector budgetari rule event favour cyclic develop acceler reduct cyclic adjust deficit implement addit measur rule take acceler deficit reduct account budgetari margin stem slower plan increas expenditur alloc deficit reduct updat project real gdp growth acceler estim period macroeconom project base scenario previou updat quot cautiou quot scenario real gdp growth averag year period quot favour quot scenario real gdp growth reach year consum price inflat expect remain moder time span updat growth assumpt outdat commiss forecast real gdp increas appear plausibl forecast appear plausibl year project quot cautiou quot scenario realist scenario consid refer scenario assess budgetari project updat target gener govern deficit gdp compar expect deficit gdp project headlin deficit gdp primari balanc project improv gdp gdp cyclic adjust term base commiss calcul commonli agre methodolog improv percentag point gdp cyclic adjust deficit amount gdp plausibl macroeconom budgetari assumpt adjust path programm insuffici elimin excess deficit achiev object surround risk real gdp growth lower assum updat govern deficit turn higher expect achiev expenditur target set uncertain requir full implement effici measur introduc improv cyclic adjust balanc plan reli measur design implement reform health insur system deficit plan reduc margin materialis mention risk compens compromis reduct deficit gdp case implement addit measur secur correct excess deficit situat latest franc implement measur line council conclus novemb ensur deficit gdp latest base commiss calcul commonli agre methodolog budgetari stanc updat insuffici ensur stabil growth pact medium term object budgetari posit close balanc surplu achiev programm period addit methodolog budgetari posit provid suffici safeti margin avoid futur breach gdp deficit threshold normal macroeconom condit reach debt ratio project start declin remain refer treati period cover programm evolut debt ratio favour project risk deficit outcom mention franc recent pass comprehens pension reform increas number contribut year entitl full pension rais financi incent remain activ legal retir ag refer index pension public sector wage price franc consider posit reform meet budgetari cost ag popul risk unbal long term rule secur adequ primari surplu essenti ensur public financ sustain foot complement context reform health insur system design implement measur aim control evolut spend econom polici reflect updat partli consist recommend broad econom polici guidelin specif budgetari implic budgetari plan includ improv cyclic adjust balanc higher minimum percentag point gdp recommend council cumul improv cyclic adjust balanc insuffici bring nomin deficit gdp addit updat forese attain budgetari posit close balanc surplu horizon programm franc ensur budgetari consolid continu year steadi reduct cyclic adjust budgetari deficit percentag point gdp year achiev medium term posit govern financ close balanc surplu bring back debt ratio declin path oj