Decision 2005/183 - 2005/183/EC: Council Decision of 5 July 2004 on the existence of an excessive deficit in Poland

Please note

This page contains a limited version of this dossier in the EU Monitor.

Contents

  1. Current status
  2. Key information
  3. Key dates
  4. Legislative text
  5. Original proposal
  6. Sources and disclaimer
  7. Full version
  8. EU Monitor

1.

Current status

This decision was in effect from January 11, 2005 until July 28, 2008.

2.

Key information

official title

2005/183/EC: Council Decision of 5 July 2004 on the existence of an excessive deficit in Poland
 
Legal instrument Decision
Number legal act Decision 2005/183
Original proposal SEC(2004)827 EN
CELEX number i 32005D0183

3.

Key dates

Document 05-07-2004
Publication in Official Journal 09-03-2005; OJ L 62 p. 18-18
Effect 11-01-2005; Entry into force Date notif.
End of validity 28-07-2008; Repealed by 32008D0622 {repealing.act.provisional.date.notification.disclaimer|http://publications.europa.eu/resource/authority/fd_365/repealing.act.provisional.date.notification.disclaimer}
Notification 11-01-2005

4.

Legislative text

9.3.2005   

EN

Official Journal of the European Union

L 62/18
 

COUNCIL DECISION

of 5 July 2004

on the existence of an excessive deficit in Poland

(2005/183/EC)

THE COUNCIL OF THE EUROPEAN UNION,

Having regard to the Treaty establishing the European Community, and in particular Article 104(6) thereof,

Having regard to the recommendation from the Commission,

Having regard to the observations made by Poland,

Whereas:

 

(1)

According to Article 104 of the Treaty Member States are to avoid excessive government deficits; this applies also to Member States with a derogation, the case of all countries that joined the European Union on 1 May 2004.
 

(2)

The Stability and Growth Pact is based on the objective of sound government finances as a means of strengthening the conditions for price stability and for strong sustainable growth conducive to employment creation.
 

(3)

The excessive deficit procedure under Article 104 provides for a decision on the existence of an excessive deficit and the Protocol on the excessive deficit procedure annexed to the Treaty sets out further provisions relating to the implementation of the excessive deficit procedure. Council Regulation (EC) No 3605/93 of 22 November 1993 on the application of the Protocol on the excessive deficit procedure annexed to the Treaty establishing the European Community (1), lays down detailed rules and definitions for the application of the provision of the said Protocol.
 

(4)

Article 104(5) of the Treaty requires the Commission to address an opinion to the Council if the Commission considers that an excessive deficit in a Member State exists or may occur. Having examined all relevant factors taken into account in its report in accordance with Article 104(3) and having regard to the opinion of the Economic and Financial Committee in accordance with Article 104(4), the Commission concluded in its opinion of 24 June 2004 that there exists an excessive deficit in Poland.
 

(5)

Article 104(6) of the Treaty lays down that the Council should consider any observations which the Member State concerned may wish to make before deciding, after an overall assessment, whether an excessive deficit exists.
 

(6)

The overall assessment leads to the following conclusions: the general government deficit reached 4,1 % of GDP in 2003 in Poland, above the 3 % of GDP Treaty reference value. The excess of the general government deficit over the reference value did not result from an unusual event outside the control of the Polish authorities, nor was it the result of a severe economic downturn, in the sense of the Stability and Growth Pact. The general government deficit is likely to remain above 3 % of GDP in 2004. In particular, according to the Commission Spring 2004 forecasts, the deficit is projected to reach 6 % of GDP in 2004, while the convergence programme of Poland expects a deficit of 5,7 % of GDP. The debt ratio, which was 45,4 % in 2003, is likely to remain below the 60 % of GDP Treaty reference value in 2004. The deficit and the debt figures will have to be adjusted upward if the open pension funds are excluded from the general government sector following the Eurostat decision on the classification of the funded pension schemes,

HAS ADOPTED THIS DECISON:

Article 1

From an overall assessment it follows that an excessive deficit exists in Poland.

Article 2

This decision is addressed to the Republic of Poland.

Done at Brussels, 5 July 2004.

For the Council

The President

  • G. 
    ZALM
 
 

More

This text has been adopted from EUR-Lex.

5.

Original proposal

 

6.

Sources and disclaimer

For further information you may want to consult the following sources that have been used to compile this dossier:

This dossier is compiled each night drawing from aforementioned sources through automated processes. We have invested a great deal in optimising the programming underlying these processes. However, we cannot guarantee the sources we draw our information from nor the resulting dossier are without fault.

 

7.

Full version

This page is also available in a full version containing the legal context, de Europese rechtsgrond, other dossiers related to the dossier at hand and the related cases of the European Court of Justice.

The full version is available for registered users of the EU Monitor by ANP and PDC Informatie Architectuur.

8.

EU Monitor

The EU Monitor enables its users to keep track of the European process of lawmaking, focusing on the relevant dossiers. It automatically signals developments in your chosen topics of interest. Apologies to unregistered users, we can no longer add new users.This service will discontinue in the near future.