The European Commission published the 2015 Annual Growth Survey on 28 November.
It focuses on sustainable job creation and economic growth. The AGS proposes an Investment Plan to mobilise at least € 315 billion of additional public and private investment over the next three years. This is part of the European Commission's overall approach to support job creation. The Commission recommends pursuing an economic and social policy based on three main pillars: (1) a boost to investment, (2) a renewed commitment to structural reforms and (3) the pursuit of fiscal responsibility.
The AGS launches the annual cycle of economic governance, sets out general economic priorities for the EU and provides member states with policy guidance for the following year. Despite the efforts made at national and EU level, the recovery of the European economy is still weak and fragile. This in turn is hampering progress in reducing the high level of unemployment and poverty.
The European Commission also proposes to streamline and reinforce the European Semester by giving it a sharper focus and a more political role based on the three pillars of the Annual Growth Survey. The Annual Growth Survey is accompanied by the Alert Mechanism Report (AMR), which is part of the regular surveillance under the macroeconomic imbalances procedure, to identify and address imbalances that may hinder the performance of national economies, the eurozone area, or the EU as a whole. Employment and social indicators are being introduced into the macroeconomic imbalances procedure and should be used to gain a better understanding of the labour market and social developments and risks.
The Annual Growth Survey 2015 is also accompanied by the publication of the Commission proposal for the Joint Employment Report. It analyses the employment situation in Europe and the policy responses by Member States.
For more information see the European Commission's press release on the AGS: