Nedzhmi Ali on the European semester for economic policy coordination: Annual Growth Survey 2018

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Thank you Mr. President, Commissioner Thyssen,

Stronger economic governance and better policy coordination between the member states couldn´t be done without the European Semester. This year the process of macro-economic, budgetary and structural policy coordination is particularly important for the Union in the context of preparation of the next MFF.

In this regard a real synergy between budgetary and monetary policies should be introduced in order to stimulate growth and job creation, as well as to revive investments. Ambitious reforms of the euro area governance should be proposed, including the introduction of a special instrument to support the adoption of the euro by the non-euro member-states who have committed themselves to adopting the euro. The evolution of the European Stability Mechanism towards the European Monetary Fund is also important.

Public and private investment in infrastructure, research and development, innovation and education should be encouraged in order to achieve the goals of budgetary, growth and employment policies. Most effectively these goals could be achieved implementing a strong and well-resourced Cohesion policy. Having in mind the situation with the jobs for young people in the EU, we should underline the importance of implementation of the Youth Employment Initiative.

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