As part of the annual coordination cycle of the "European Semester", the Government has just forwarded to the European Commission and the Council of the European Union the 2017 edition of the National Reform Program (PNR) "Luxembourg 2020" and of the Stability and Growth Program (PSC) for the period 2017-2021 on which the Governing Council formally agreed on 28 April 2017.
This important step in the European Semester follows two meetings of the national social dialogue with the The social partners, organised under the aegis of the Economic and Social Council (ESC), as well as the debates in the Chamber of Deputies on 26 and 27 April 2017.
The "Luxembourg 2020" PNR describes Luxembourg's ten-year strategy to increase employment and productivity while at the same time strengthening social cohesion, to cope with environmental challenges and the ageing of the population. The NRP ensures the implementation of the country-specific recommendations addressed to Luxembourg by the EU Council of Ministers for 2016-2017, as well as a number of quantitative targets set by Luxembourg for 2020 Employment, research and development, early school leaving and higher education, in the field of climate change and energy, as well as in the fight against poverty and social exclusion.
The PSC 2017 presents an update of the multi-annual budgetary guidelines adopted last autumn under the law of 23 December 2016 on multi-annual financial programming for the period 2016-2020. It confirms full compliance with the rules of the Stability and Growth Pact and the stabilisation of the public debt below 23% of GDP over the entire period under review, ie below the 30% threshold set by the Government program.
Following the submission of the PNR and PSC to the European Commission and the Council of the EU on 28 April 2017, the timetable for the European Semester is as follows:
The Commission will draw up proposals for 2017-2018 recommendations for each Member State, which will be published in May. The proposals for recommendations will then be discussed at the level of the various committees and the various formations of the Council of Ministers of the EU. The European Council will validate the recommendations in June 2017.
Later in the year, during the second half of the year, Luxembourg will provide guidance, as part of its draft budget plan 2018 to be submitted to the European Commission by 15 October 2017, Possible new recommendations and updated budget guidelines for 2017-18.
