03/05/2013 at 11:00
Where: Brussels, Belgium
Topic: Economy, finance, tax and competition
Organiser: European Commission
The European Commission will publish its spring economic forecast for 2012-2014 covering Gross Domestic Product (GDP), inflation, employment and public budget deficits and debt, amongst others. These forecasts focus on all 27 EU Member States, plus Croatia as an accession country and the candidate countries Turkey, Iceland, Montenegro, Serbia, and the former Yugoslav Republic of Macedonia, as well as other non-EU countries such as USA, Japan, China and Russia.
The European Commission produces short-term macroeconomic forecasts three times year: in the spring, autumn and in the winter. They serve as a basis for various economic surveillance procedures, such as in the context of the European Semester.
In this context, the forecasts will feed into the Commission's economic analysis ahead of the country-specific recommendations, which are due to be presented by the Commission at the end of May. It will also provide a clearer picture of Member States' compliance with the Council of Ministers' Recommendations both on the Excessive Deficit Procedure and the Macroeconomic Imbalances Procedure.
11.00 Press Conference with Vice-President Rehn in the Berlaymont Press Room in Brussels. Press release with a link to the report will be available on the day.