Photo: European Union
The Council (ECOFIN):
- STRESSES that ageing populations pose a major challenge for long term sustainability of public finances, exacerbated by the significant rise in government debt levels following the economic and financial crisis. Although debt has recently embarked on a downward trend in the EU, it remains elevated and is expected to remain above pre-crisis levels for some time. In this context ensuring the long-term sustainability of public finances is particularly important. AFFIRMS the need for appropriate growth friendly fiscal consolidation in accordance with the Stability and Growth Pact and further implementation of structural reforms supporting potential growth in order to enhance the sustainability of public finances.
- ENDORSES the 2018 Ageing Report: economic and budgetary projections for the EU Member States (2016–2070) prepared by the Economic Policy Committee (Ageing Working Group) and Commission services (DG ECFIN) on the basis of commonly agreed methodologies and assumptions. In line with previous editions, the projections in the 2018 Ageing Report cover age-related public expenditure (pensions, health care, long-term care, education), and unemployment benefit expenditure.
Read the full press release here.
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