The Commission is today providing policy guidance to Member States under the 2024 European Semester Spring Package to build a robust and future-proof economy that secures competitiveness, resilience and long-term prosperity for all, while maintaining sound public finances, in the face of a challenging geopolitical environment.

The EU is determined to take further steps to enhance its long-term competitiveness, prosperity and leadership on the global stage and to strengthen its open strategic autonomy. While the EU and its Member States have strong assets to build on, the EU will continue to address structural challenges that hamper its competitiveness, ensuring higher productivity growth and stronger investment and addressing labour and skills shortages.

This requires an integrated approach across all policy areas: macroeconomic stability, promoting environmental sustainability, productivity and fairness. The European Semester provides this policy coordination, including the implementation of NextGenerationEU, with the Recovery and Resilience Facility (RRF) at its core, and Cohesion Policy programmes. The European Semester cycle also provides updated reporting on progress towards the delivery of the Sustainable Development Goals and identifies investment priorities for the upcoming mid-term review of Cohesion Policy.