Poorest regions of Europe swiftly regain ground 19-06-2008 Commissioner Danuta Hübner has unveiled the 5th progress report on economic
and social cohesion. The first part presents an analysis of the results of the
public consultation launched last year on the future of Regional Policy. Not
only is the Cohesion Policy seen as a vehicle for promoting solidarity, it also
favours competitiveness. The second part of the report outlines the factors
currently driving growth in Europe, which is based on knowledge-intensive
services.
In the report, regions have been grouped into three categories: Convergence,
Transition, and Regional Competitiveness and Employment (RCE) regions, each
with a distinct socio-economic profile. Convergence regions still have a
considerably lower GDP per head, at 58% of the EU average while Transition
regions are getting closer to the EU average.
The analysis shows that European growth sectors have largely contributed to
convergence. However, important differences in the economic structure of the
three groups of regions remain and the pattern of catching-up differs between
Convergence and Transition regions. This has several implications from a policy
point of view.
Efforts to foster European high growth sectors, i.e. those with above average
employment or GVA growth, seem justified. Not only are these sectors the ones in
which the European economy has its clearest global growth perspective, they can
also be powerful motors for the EU convergence process.
Moreover, the analysis shows that Convergence regions are undergoing a major
economic restructuring. Substantial employment is being created in the service
sector, while agriculture is shedding even more employment. GVA growth is high
especially in industry and services and productivity growth is three times
higher than in RCE regions. Such restructuring requires a tailored policy
response. The report makes several recommendations for action so as to grow
further.
Source: DG Regio LinksClick here to read the press release of DG Regio on the Fifth progress report on economic and social cohesion Files back |
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