Annual Sustainable Growth Survey 2023

Background

The 2023 Annual Sustainable Growth Survey (ASGS) outlines the Commission's economic policy agenda for the coming 12 to 18 months. It takes place in the context of the European Semester, which is the annual cycle of EU economic and fiscal policy coordination. This year's edition aims to mitigate the impact of the energy shocks in the short term, stimulating sustainable growth, and increasing the EU's resilience in the medium term. The measures pursue the EU policy objectives of the green and digital transitions and are structured around the four dimensions of competitive sustainability, in line with the Sustainable Development Goals. The ASGS 2023 also continues to guide Member States in the implementation of the national Recovery and Resilience Plans (RRPs).

Key points

In the opinion, the EESC:

• calls for a moderate, realistic and balanced approach while addressing inflation. While soaring food, raw material and energy prices have led to record high inflation rates, vulnerable households should be supported in the short term to protect them from the worst effects of the crisis, and medium- and long-term policies should accelerate the digital and green transitions. The EU also needs to balance the demand for energy supply and support measures that will boost efficiency in all areas. This must be done while preserving the integrity of the single market and ensuring macroeconomic financial stability and coherent fiscal and monetary policies. Moreover, the EESC stresses that problems can only be solved if governments, businesses and organised civil society work together. Member States must relentlessly focus on efficiency and fairness in using financial and other public resources available. This is critical to securing new and quality investments.
• emphasises the need for fair working conditions, effective competition and better consideration of civil society concerns in order to improve the functioning of the single market. Recent shocks underline the importance of closely coordinating sound fiscal policies and of building fiscal buffers during good times, while simultaneously addressing social deficits. Fiscal policies should aim to achieve prudent medium-term fiscal positions and ensure fiscal sustainability through gradual consolidation and sustainable growth-enhancing investment and reforms.
• urges the Commission to invest in better communication with citizens in order to avoid misunderstandings about the European project. In this respect, the EESC welcomes the Commission's efforts to organise dialogues with the Member States in early 2023. These dialogues will promote better implementation of the national Recovery and Resilience Plans and help to ensure that any concerns are better addressed and identified through the country-specific recommendations.

The full text of the opinion can be found here. 

Additional information

Section: Economic and Monetary Union and Economic and Social Cohesion (ECO)

Opinion number: ECO/599

Opinion type: Optional referral

Rapporteur: Gonçalo Lobo Xavier

Reference: COM(2022) 780 final

Date of adoption by section: 01/02/23

Result of the vote: no vote

Date of adoption in plenary: 23/02/23

Result of the vote: 196 in favour / 2 against / 4 abstentions

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