(27 February 2019) – In its annual assessment, the European Commission today stresses the need to promote investment, pursue responsible fiscal policies and implement well-designed reforms. Challenges vary significantly across countries.
This review of country-specific challenges comes against the backdrop of a European economy that is expected to grow for the seventh consecutive year in 2019, but at a more moderate pace.
Employment is at a record high and unemployment at a record low. Public finances have also improved across the board, although some countries are still facing high levels of debt.
However, challenges remain. Productivity levels remain subdued, population ageing is intensifying and rapid technological change is having a significant impact on labour markets.
Real household income remains below pre-crisis levels in some Member States. Youth unemployment has been significantly reduced, but is still unacceptably high in some countries.