Decision 2013/317 - 2013/317/EU: Council Decision of 21 June 2013 abrogating Decision 2009/591/EC on the existence of an excessive deficit in Latvia - Main contents
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official title
2013/317/EU: Council Decision of 21 June 2013 abrogating Decision 2009/591/EC on the existence of an excessive deficit in LatviaLegal instrument | Decision |
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Number legal act | Decision 2013/317 |
Original proposal | COM(2013)386 |
CELEX number i | 32013D0317 |
Document | 21-06-2013 |
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Publication in Official Journal | 26-06-2013; OJ L 173 p. 48-49 |
Effect | 05-07-2013; Entry into force Date notif. |
End of validity | 31-12-9999 |
Notification | 05-07-2013 |
26.6.2013 |
EN |
Official Journal of the European Union |
L 173/48 |
COUNCIL DECISION
of 21 June 2013
abrogating Decision 2009/591/EC on the existence of an excessive deficit in Latvia
(2013/317/EU)
THE COUNCIL OF THE EUROPEAN UNION,
Having regard to the Treaty on the Functioning of the European Union, and in particular Article 126(12) thereof,
Having regard to the recommendation from the European Commission,
Whereas:
(1) |
On 7 July 2009, following a recommendation from the Commission in accordance with Article 104(6) of the Treaty establishing the European Community (TEC), the Council decided, in Decision 2009/591/EC (1), that an excessive deficit existed in Latvia. The Council noted that the general government deficit had reached 4,0 % of GDP in 2008, above the 3 %-of-GDP Treaty reference value, while the general government gross debt stood at 19,5 % of GDP in 2008, well below the 60 %-of-GDP Treaty reference value (2). |
(2) |
On 7 July 2009, in accordance with Article 104(7) TEC and Article 3(4) of Council Regulation (EC) No 1467/97 of 7 July 1997 on speeding up and clarifying the implementation of the excessive deficit procedure (3), the Council, based on a recommendation from the Commission, addressed a Recommendation to Latvia with a view to bringing the excessive deficit situation to an end by 2012. The Recommendation was made public. |
(3) |
In accordance with Article 4 of the Protocol on the excessive deficit procedure annexed to the Treaties, the Commission provides the data for the implementation of the procedure. As part of the application of this Protocol, Member States are to notify data on government deficits and debt and other associated variables twice a year, namely before 1 April and before 1 October, in accordance with Article 3 of Council Regulation (EC) No 479/2009 of 25 May 2009 on the application of the Protocol on the excessive deficit procedure annexed to the Treaty establishing the European Community (4). |
(4) |
When considering whether a decision on the existence of an excessive deficit ought to be abrogated, the Council has to take a decision on the basis of notified data. Moreover, a decision on the existence of an excessive deficit should be abrogated only if the Commission services forecasts indicate that the deficit will not exceed the 3 %-of-GDP threshold over the forecast horizon. |
(5) |
Based on data provided by the Commission (Eurostat), in accordance with Article 14 of Regulation (EC) No 479/2009, following the notification by Latvia before 1 April 2013 and on the Commission services 2013 spring forecast, the following conclusions are justified:
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