2016 Annual Growth Survey provides right focus for a renewed reform effort

Following the publication of the European Commission’s package to launch the European Semester, including the 2016 Annual Growth Survey, BUSINESSEUROPE Director General Markus J. Beyrer made the following comment: “By retaining their priorities in the annual growth survey on investment, structural reforms and fiscal responsibility, the Commission has set the right focus for the 2016 European Semester. The implementation of growth-enhancing structural reforms in particular can be key to creating a virtuous circle of investment-led growth. But it remains the case that many member states need to respond to the positive lesson from countries such as Ireland, Spain and the Baltic states, that reform works in delivering growth and jobs.”

Commenting on the 2016 employment report also released today, Markus J Beyrer added: “The Commission’s analysis provides useful information on the latest labour market developments across Europe. But more efforts are needed to ensure that EU and national labour market policies converge to ensure that the recovery also brings strong job creation. To support this, the European Union needs to quickly progress towards a renewed EU strategy on flexicurity”.

BUSINESSEUROPE monitors the implementation of country-specific structural reforms through its annual Reform Barometer. The 2015 report showed that only 22% of the European Council’s key country-specific reform recommendations are being satisfactorily implemented by EU member states.

Read BUSINESSEUROPE’s 2015 Reform Barometer here.