The Stability and Growth Programme presents an outlook on the current year and the three following years. It is updated on an annual basis and transmitted every year in April to the EU Commission by each EU member state. The programme encompasses the description of the medium-term objective and the related adjustment path, a forecast of the public debt ratio, details on contingent liaibilities (in particular in relation to demographic ageing) as well as the main macro-economical assumptions used to build the budget (such as growth, employment, inflation….).
Programmes are assessed by the EU Commission and by the Economic and Financial Committee and then submitted to the European Council. The latter issues recommandations which have to be implemented by the member states in their next budget process.