- As part of the process of budget monitoring across the EU (known as the European Semester), each EU member state submits a Stability Programme Update (SPU) to the European Commission in April of every year.
- By deciding to submit this update the Government is complying with EU rules.
- It is important to note that the economic and fiscal forecasts set out in this document are prepared on a technical, no-policy change basis.
- The analysis and forecasts contained in the document are based on data up to mid-April 2016.
- The SPU includes updated macroeconomic figures for Ireland which reflect the continued improvements in the Irish economy. It is important that we have in place procedures like this to keep the economy under appropriate monitoring and to be able to deal with developments as they arise.