EC presents European Semester Autumn Package
On 18 November 2020, the European Commission (EC) presented its autumn economic policy package, including the Opinions on euro area Draft Budgetary Plans (DBPs) for 2021 and policy recommendations for the euro area. This is the second step in the 2021 European Semester cycle, which started in September with the publication of the Annual Sustainable Growth Strategy (ASGS) with the concept of competitive sustainability at its heart. The ASGS also provided strategic guidance for Member States in drafting their Recovery and Resilience Plans and set out the relationship between the Recovery and Resilience Facility (RRF) and the Semester. The European Semester Autumn Package draws upon the Autumn 2020 Economic Forecast – prepared in a context of high uncertainty – which projected that the economic shock caused by the coronavirus pandemic would leave output in the euro area and the EU below its pre-pandemic level in 2022.
The package includes
- the EC's Opinions on the Draft Budgetary Plans (DBPs) of euro area Member States
- the recommendation on the economic policy of the euro area,
- the Alert Mechanism Report (AMR)
- the proposal for a Joint Employment Report
- the Commission staff-working document on delivering on the SDGs
- enhanced surveillance report and post-programme surveillance reports.
The Eurogroup and the Council will discuss the package. The EC will also enter into a dialogue with the European Parliament on the contents of this package and each subsequent step in the European Semester cycle.
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