The European Commission will carry out a more detailed inspection of the Bulgarian economy
The Von der Leyen Commission launches a new cycle of the European Semester - the first for its term. The Commission presents an ambitious, renovated growth strategy aimed at promoting sustainable competitiveness in order to build an economy that works for the people and the planet.
The annual Sustainable Growth Strategy showcases the vision outlined in the political guidelines of President Ursula von der Leyen. It outlines the EU's economic and employment policy strategy, with sustainability and social inclusion placed in the heart of EU economic policy in accordance with the priorities set out in the European Green Pact which is the Commission's new growth strategy.
Its purpose is to ensure that Europe continues to be one of the most advanced social security systems in the world, that it is to become the first climate-neutral continent and is a dynamic hub for innovation and competitive entrepreneurship.
The strategy will provide Europe with the tools to become more ambitious regarding social justice and prosperity. More generally, the Sustainable Growth Strategy will help the EU and its Member States achieve the UN Sustainable Development Goals, which is included for the first time in the European Semester.
The alert mechanism report - a tool for detecting macroeconomic imbalances - recommends that 13 Member States undergo an "in-depth review" in 2020 in order to identify and assess the severity of possible macroeconomic imbalances.
Member States must continue to cope with the macroeconomic imbalances they face in order to be prepared for long-term challenges and potential future turmoil. The Member States designated to be reviewed are Bulgaria, Germany, Greece, Ireland, Spain, Italy, Cyprus, the Netherlands, Portugal, Romania, France, Croatia and Sweden.