Council Opinion

of 18 January 2005

on the updated Stability Programme of the Netherlands, 2004-2007

(2005/C 79/06)

THE COUNCIL OF THE EUROPEAN UNION,

Having regard to the Treaty establishing the European Community,

Having regard to Council Regulation (EC) No 1466/97 of 7 July 1997 on the strengthening of the surveillance of budgetary positions and the surveillance and coordination of economic policies [1], and in particular Article 5(3) thereof,

Having regard to the recommendation of the Commission,

After consulting the Economic and Financial Committee,

HAS DELIVERED THIS OPINION:

| 2004 | 2005 | 2006 | 2007 |

Real GDP(% change) | SP Nov. 2004 | 1,25 | 1,5 | 2,5 | 2,5 |

COM autumn 2004 00 | 1,4 | 1,7 | 2,4 | n.a. |

SP Oct. 2003 | 1 | 2,5 | 2,5 | 2,5 |

HICP inflation(%) | SP Nov. 2004 | 1,25 | 1,25 | 1,5 | 1,5 |

COM autumn 2004 | 1,2 | 1,3 | 1,4 | n.a. |

SP Oct. 2003 | 1,5 | 1,5 | 1,5 | 1,5 |

General government balance(% of GDP) | SP Nov. 2004 | – 3,0 | – 2,6 | – 2,1 | – 1,9 |

COM autumn 2004 | – 2,9 | – 2,4 | – 2,1 | n.a. |

SP Oct. 2003 | – 2,3 | – 1,6 | – 0,9 | – 0,6 |

Primary balance(% of GDP) | SP Nov. 2004 | – 0,1 | 0,3 | 0,7 | 0,8 |

COM autumn 2004 | 0,0 | 0,5 | 0,9 | n.a. |

SP Oct. 2003 | 0,6 | 1,2 | 1,8 | 2,1 |

Cyclically-adjusted balance(% of GDP) | SP Nov. 2004 | – 1,6 | – 1,2 | – 1,2 | – 1,3 |

COM autumn 2004 | – 1,4 | – 1,0 | – 1,0 | n.a. |

SP Oct. 2003 | – 0,7 | – 0,3 | – 0,2 | – 0,2 |

Government gross debt(% of GDP) | SP Nov. 2004 | 56,3 | 58,1 | 58,6 | 58,3 |

COM | 55,7 | 58 | 58,4 | n.a. |

SP Oct. 2003 | 54,5 | 53,7 | 53,0 | 52,2 |

[1] OJ L 209, 2.8.1997, p. 1.

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