The European Semester

Economic policy measures and national objectives are linked to the common objectives of the European Union. In order to achieve the objectives of the Member States, the European Commission has adopted a common method of monitoring and reporting at European Union level, namely the European Semester, which aims to coordinate Member States’ reporting on measures and plans for budgetary, macroeconomic and structural reforms. Every year, the European Commission analyses Member States' plans in detail and issues specific recommendations for the next 12-18 months, and since 2011 it has also monitored developments in macroeconomic indicators for the prevention and early detection of economic imbalances.

In 2024 the revised Stability and Growth Pact entered into force which is the basic tool for the European Union to safeguard economic stability and fiscal discipline. Instead of the Stability Programme and National Reform Programme, which had to be submitted every year, a Medium-Term Fiscal-Structural Plan will be prepared every four years. Each spring, countries will report on the implementation of the plan as part of their annual reports.

Medium-term fiscal-structural plan

The medium-term fiscal-structural plan defines the planned fiscal policy, with the growth of the so-called net expenditure fixed over the period of the plan, as well as key reforms and investments in response to country specific recommendations under the European Semester and common EU priorities. The adequacy of the plan is checked by the European Commission and approved by the Council of the EU. The first medium-term fiscal-structural plan must be submitted to the European Commission and the Council of the EU for endorsement by 20 September or 15 October 2024 at the latest.

Stability programme

A stability programme sets out a multi-year macroeconomic and fiscal framework and key fiscal projections and their components and evaluates fiscal objectives in accordance with the requirements of the European Commission and the Stability and Growth Pact. Under the European Semester, Slovenia is obliged to submit its stability programme by the end of April for the next three years. The European Commission examines the programme as to whether its goals and content enable the achievement of the medium-term fiscal objective. If the Commission assesses that the minimum required fiscal efforts will not be achieved, it calls upon the Member State concerned to take action and adapt the stability programme.

National reform programme

In a national reform programme, the Government sets out the planned work priorities and measures to achieve the specific recommendations and main goals of the umbrella development strategy of the EU. The document also presents the key policies of the Government in the process of the European Semester. In accordance with the rules, every year by 15 April Slovenia must produce the document relating to the next two years and submit it to the European Commission.

The start of the European Semester is marked by the Annual Growth Survey. In this survey, the European Commission calls upon the Member States to intensify their efforts in the three priority areas of economic policy – (1) stimulating investments, (2) implementing structural reforms and (3) providing responsible fiscal policies.

Draft budgetary plan

In accordance with the provisions on monitoring and assessing draft budgetary plans and ensuring the reduction of excessive deficit in euro area Member States, all Member States submit draft budgetary plans to the European Commission by 15 October at the latest. In these plans, the Member States present main orientations and elements concerning fiscal objectives and measures for the coming year prior to their adoption by the national parliaments.

Structural Reform Support Programme

The European Commission introduced the Structural Reform Support Programme with a view to strengthening the capacities of the Member States to design and implement administrative and structural reforms aimed at sustaining economic growth, including assistance in the effective use of EU funds. The support is primarily intended for state authorities and public institutions and can be provided in various ways (e.g. by providing missions of foreign experts, comparative analyses, workshops and trainings, the exchange of good practices, consultations, and data analyses). Support within the programme, which can cover a wide range of policy areas, is provided by the European Commission on a Member State’s request.

The programme is focused on providing adjusted assistance and expert knowledge in the field with a view to monitoring the state authorities of requesting Member States in the implementation of the entire reform process or phases thereof as agreed in advance.

Slovenia’s contact point

The cooperation between Slovenia and the European Commission’s Structural Reform Support Service and tasks related to the implementation of the programme for 2017–2020 are coordinated by the Ministry of Finance: