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Economy and Finance

Fiscal surveillance in Cyprus

Assessments of Cyprus's stability programme

As required by the Stability and Growth Pact, each spring EU countries submit stability/convergence programmes which present an update of the medium-term fiscal strategy.

Euro area Member States submit stability programmes while countries outside the euro area submit convergence programmes. Based on an assessment by the Commission prepared by DG ECFIN, the Council adopts an opinion on the programme in the scope of the European Semester.

Cyprus is covered by surveillance under an economic adjustment programme. Therefore no stability programme was submitted this year.

The EU Excessive Deficit Procedure and Cyprus