Macroeconomic Imbalance Procedure
The Macroeconomic Imbalance Procedure (MIP) is a surveillance mechanism that aims to identify potential risks early on, prevent the emergence of harmful macroeconomic imbalances and correct the imbalances that are already in place.
The annual starting point of the MIP is the Alert Mechanism Report: Based on a scoreboard of indicators and economic judgment, it is a filter to identify countries and issues for which a closer analysis (in-depth review) is deemed necessary. The outcome of these in-depth reviews forms the basis for further steps under the MIP.
An in-depth review for Cyprus was carried out in 2012, 2016 and 2017. Please find full documents below:
- Country reports including in-depth reviews - 2017
- Country reports including in-depth reviews - 2016
- In-depth review - Cyprus 2012
When the IDR identifies imbalances, the European Commission monitors in-year progress by the member-state in addressing those imbalances. A progress report on policy relevant measures is published in Fall and discussed with member states at the Economic Policy Committee.