Country | HICP inflation rate[1][nb 1] | Excessive deficit procedure[2] | Exchange rate | Long-term interest rate[3][nb 2] | Compatibility of legislation | ||
---|---|---|---|---|---|---|---|
Budget deficit to GDP[4] | Debt-to-GDP ratio[5] | ERM II member[6] | Change in rate[7][8][nb 3] | ||||
Reference values[nb 4] | Max. 4.9%[nb 5] (as of April 2022) | None open (as of 25 May 2022) | Min. 2 years | Max. ±15%[nb 6] (for 2021) | Max. 2.6%[nb 5] (as of April 2022) | Yes[9][10] (as of 25 March 2022) | |
Max. 3.0% (Fiscal year 2021)[9] | Max. 60% (Fiscal year 2021)[9] | ||||||
EU members (outside the eurozone) | |||||||
Bulgaria | 5.9% | None | 3 years, 10 months | 0.0% | 0.5% | No | |
4.1% (exempt) | 25.1% | ||||||
Czech Republic | 6.2% | None | No | 3.1% | 2.5% | No | |
5.9% (exempt) | 41.9% | ||||||
Denmark | 3.6% | None | 25 years, 4 months | 0.2% | 0.2% | Unknown | |
-2.3% (surplus) | 36.7% | ||||||
Hungary | 6.8% | None | No | -2.1% | 4.1% | No | |
6.8% (exempt) | 76.8% (exempt) | ||||||
Poland | 7.0% | None | No | -2.7% | 3.0% | No | |
1.9% | 53.8% | ||||||
Romania | 6.4% | Open | No | -1.7% | 4.7% | No | |
7.1% | 48.8% | ||||||
Sweden | 3.7% | None | No | 3.2% | 0.4% | No | |
0.2% | 36.7% |
Criterion fulfilled
Criterion potentially fulfilled: If the budget deficit exceeds the 3% limit, but is "close" to this value (the European Commission has deemed 3.5% to be close by in the past),[11] then the criteria can still potentially be fulfilled if either the deficits in the previous two years are significantly declining towards the 3% limit, or if the excessive deficit is the result of exceptional circumstances which are temporary in nature (i.e. one-off expenditures triggered by a significant economic downturn, or by the implementation of economic reforms that are expected to deliver a significant positive impact on the government's future fiscal budgets). However, even if such "special circumstances" are found to exist, additional criteria must also be met to comply with the fiscal budget criterion.[12][13] Additionally, if the debt-to-GDP ratio exceeds 60% but is "sufficiently diminishing and approaching the reference value at a satisfactory pace" it can be deemed to be in compliance.[13]
Criterion not fulfilled
- Notes
References
- ^ "HICP (2005=100): Monthly data (12-month average rate of annual change)". Eurostat. 16 August 2012. Retrieved 14 March 2024.
- ^ "The corrective arm/ Excessive Deficit Procedure". European Commission. Retrieved 14 March 2024.
- ^ "Long-term interest rate statistics for EU Member States (monthly data for the average of the past year)". Eurostat. Retrieved 18 December 2012.
- ^ "Government deficit/surplus data". Eurostat. 22 April 2013. Retrieved 22 April 2013.
- ^ "General government gross debt (EDP concept), consolidated - annual data". Eurostat. Retrieved 2018-06-02.
- ^ "ERM II – the EU's Exchange Rate Mechanism". European Commission. Retrieved 14 March 2024.
- ^ "Euro/ECU exchange rates - annual data". Eurostat. Retrieved 14 March 2024.
- ^ "Former euro area national currencies vs. euro/ECU - annual data". Eurostat. Retrieved 14 March 2024.
- ^ a b c d e "Convergence Report June 2022" (PDF). European Central Bank. 2022-06-01. Retrieved 2022-06-01.
- ^ "Convergence Report 2022" (PDF). European Commission. 2022-06-01. Retrieved 2024-03-14.
- ^ "Luxembourg Report prepared in accordance with Article 126(3) of the Treaty" (PDF). European Commission. 12 May 2010. Retrieved 18 November 2012.
- ^ "EMI Annual Report 1994" (PDF). European Monetary Institute (EMI). April 1995. Retrieved 22 November 2012.
- ^ a b "Progress towards convergence - November 1995 (report prepared in accordance with article 7 of the EMI statute)" (PDF). European Monetary Institute (EMI). November 1995. Retrieved 22 November 2012.
Usage edit
This template accepts one unnamed parameter which dictates how much of the table to output. Output of parts of the table allows for this template to be used for country specific tables such as Sweden and the euro#Status.
FULL
- outputs the full table (default behaviour)TOP
- outputs just the header of the tableREF
- outputs just the reference values row of the tableISO
- outputs just the row for country "ISO"BOT
- outputs just the closing parenthesis of the table and the legend and notes
The {{Euro convergence criteria row}} template invoked by this table depends on reference values which are stored at Template:Euro convergence criteria/REF to determine if a state meets the criteria.
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