Annual Growth Survey
The European Union’s Annual Growth Survey (AGS) forms part of the European Semester process of economic policy coordination. It sets out the coming year’s overall budgetary, economic and social priorities, providing Member States with policy guidance to boost growth and employment in line with the EU’s long-term growth strategy, Europe 2020.
The AGS initiates the European Semester process. It is intended to feed into national economic and budgetary decisions which Member States will set out every April in Stability and Convergence Programmes (under the Stability and Growth Pact) and National Reform Programmes (under the Europe 2020 strategy). These programmes form the basis for the European Commission's proposals each May for country-specific recommendations to Member States. The AGS is based on reports such as the Joint Employment Report and the Alert Mechanism Report.
The 2013 AGS (108 KB PDF), issued in November 2012, notes that the European economy is now beginning to emerge from the financial and economic crisis, although it remains ‘at some distance from a recovery’. In order to return to growth, the 2013 AGS focuses on the same five priorities that were identified in the 2012 AGS (121 KB PDF):
- pursuing differentiated, growth-friendly fiscal consolidation;
- restoring normal lending to the economy;
- promoting growth and competitiveness for today and tomorrow;
- tackling unemployment and the social consequences of the crisis;
- modernising public administration.
See also: Broad Economic Policy Guidelines; Economic And Monetary Union; Employment guidelines; European economic governance; European Employment Strategy; EU system of industrial relations; European Globalisation adjustment Fund; Integrated guidelines; Lisbon Strategy; National Action Plans; National Reform Programmes; Treaty on Stability, Coordination and Governance.