European Semester has been taking place every year since January 1, 2011. Its aim is to assess the economic situation in the EU as a whole and in each EU Member State, as well as propose recommendations for the EU Member States regarding the implementation and strengthening of their economic policies. The Europe 2020 Strategy, National Reform Programmes and Stability/Convergence Programmes (so-called national programmes) of the EU Member States is the key element in the coordination and monitoring of economic policies of the EU Member States within the European Semester.

The European Semester lasts from January until July when the EU Member States submit their updated national programmes to the European Commission by the end of April, the European Commission evaluates the national programmes of the Member States and their progress in the implementation of structural reforms, presents its proposal for the EU Council’s country-specific recommendations at the end of May that are being adopted by the European Council at the end of June.

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