Press Release: Commission assesses the updated convergence programme of the Czech Republic (2004-2007)

The European Commission asked the Council on 11 January 2005 to recommend to the Czech Republic to allocate higher-than-budgeted revenues to reduce its deficit and to adhere strictly to the medium-term expenditure ceilings. The Czech Republic was also invited to step up its pension reform and to begin reforming its healthcare system to improve the long-term sustainability of the public finances. This followed the assessment of the updated convergence programme of the Czech Republic for the period 2004-2007 in accordance with EU budgetary surveillance rules.