Annual Growth Survey 2011: Signs of Recovery
This first Annual Growth Survey marks the start of a new cycle of economic governance in the EU and the first European semester of economic policy coordination. According to the latest forecasts, there are signs of economic recovery albeit still uneven. The rise in unemployment is perceived as a central problem for policy action.
Economic Governance
The adoption by the European Commission of the Annual Growth
Survey marks the beginning of the first cycle of coordination of
the Member States' macro-economic, budgetary and structural
reform policies, known as the "European semester". From
now on, every year the Commission will present its "Growth
Survey" – an evaluation of the economic situation and of the
main challenges the EU must address, and its recommendations to the
Member States. The basic principle is that governmental efforts on
all levels will be aligned: the European semester is a way to
realise economic governance throughout Europe.
Main Challenges Ahead
The main challenges discussed in this years survey have to do with the legacies from the crisis. Unemployment, weak productivity growth, and severely indebted states are to be confronted. These and other issues are dealt with in three sections:
- Macro-economic pre-requisites for growth;
- Mobilising labour markets, creating job opportunities;
- Frontloading growth-enhancing measures.
Cities and regions can play an important role in contributing to
challenges raised in the last two sections.
Publication Date
January 2011
Document Type
Policy Document