Decision 2013/318 - 2013/318/EU: Council Decision of 21 June 2013 abrogating Decision 2009/590/EC on the existence of an excessive deficit in Romania

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Contents

  1. Current status
  2. Key information
  3. Key dates
  4. Legislative text
  5. Original proposal
  6. Sources and disclaimer
  7. Full version
  8. EU Monitor

1.

Current status

This decision has been published on June 26, 2013 and entered into force on July  5, 2013.

2.

Key information

official title

2013/318/EU: Council Decision of 21 June 2013 abrogating Decision 2009/590/EC on the existence of an excessive deficit in Romania
 
Legal instrument Decision
Number legal act Decision 2013/318
Original proposal COM(2013)395 EN
CELEX number i 32013D0318

3.

Key dates

Document 21-06-2013
Publication in Official Journal 26-06-2013; OJ L 173 p. 50-51
Effect 05-07-2013; Entry into force Date notif.
End of validity 31-12-9999
Notification 05-07-2013

4.

Legislative text

26.6.2013   

EN

Official Journal of the European Union

L 173/50
 

COUNCIL DECISION

of 21 June 2013

abrogating Decision 2009/590/EC on the existence of an excessive deficit in Romania

(2013/318/EU)

THE COUNCIL OF THE EUROPEAN UNION,

Having regard to the Treaty on the Functioning of the European Union, and in particular Article 126(12) thereof,

Having regard to the recommendation from the European Commission,

Whereas:

 

(1)

On 7 July 2009, following a recommendation from the Commission in accordance with Article 104(6) of the Treaty establishing the European Community (TEC), the Council decided, in Decision 2009/590/EC (1), that an excessive deficit existed in Romania. The Council noted that the general government deficit reached 5,4 % of GDP in 2008, thus above the 3 %-of-GDP Treaty reference value, while the general government gross debt was 13,6 % of GDP, well below the 60 %-of-GDP Treaty reference value (2).
 

(2)

On 7 July 2009, in accordance with Article 104(7) TEC and Article 3(4) of Council Regulation (EC) No 1467/97 of 7 July 1997 on speeding up and clarifying the implementation of the excessive deficit procedure (3), the Council, based on a recommendation from the Commission, addressed a Recommendation to Romania with a view to bringing the excessive deficit situation to an end by 2011(‘Council Recommendation of 7 July 2009’). The Council Recommendation of 7 July 2009 was made public.
 

(3)

On 12 February 2010, in accordance with Article 126(7) of the Treaty on the Functioning of the European Union (TFEU) and Article 3(4) of Regulation (EC) No 1467/97, the Council, based on a recommendation from the Commission, acknowledging that the Romanian authorities had taken effective action in compliance with the Council Recommendation of 7 July 2009 and that unexpected adverse economic events with major unfavourable consequences for government finances had occurred in Romania, addressed a revised Recommendation to Romania with a view to bringing the excessive deficit situation to an end by 2012. This revised Recommendation was made public.
 

(4)

In accordance with Article 4 of the Protocol on the excessive deficit procedure annexed to the Treaties, the Commission provides the data for the implementation of the procedure. As part of the application of this Protocol, Member States are to notify data on government deficits and debt, and other associated variables, twice a year, namely before 1 April and before 1 October, in accordance with Article 3 of Council Regulation (EC) No 479/2009 of 25 May 2009 on the application of the Protocol on the excessive deficit procedure annexed to the Treaty establishing the European Community (4).
 

(5)

When considering whether a decision on the existence of an excessive deficit ought to be abrogated, the Council has to take a decision on the basis of notified data. Moreover, a decision on the existence of an excessive deficit should be abrogated only if the Commission services forecasts indicate that the deficit will not exceed the 3 %-of-GDP threshold over the forecast horizon.
 

(6)

Based on data provided by the Commission (Eurostat), in accordance with Article 14 of Regulation (EC) No 479/2009, following the notification by Romania before 1 April 2013 and on the Commission services' 2013 spring forecast, the following conclusions are justified:

 

—

The larger-than-expected recession in 2009 resulted in a significant shortfall in government revenue, which pushed the general government deficit to 9 % of GDP despite efforts to reduce government expenditure. Following this unexpected development and the extension of the deadline for the correction of the excessive deficit by one year, the general government deficit was subsequently reduced to 6,8 % of GDP in 2010, to 5,6 % of GDP in 2011 and to 2,9 % of GDP in 2012...


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This text has been adopted from EUR-Lex.

5.

Original proposal

 

6.

Sources and disclaimer

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7.

Full version

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8.

EU Monitor

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