ocp192_en

OUTLINE OF THE REPORTEXECUTIVE SUMMARY 11. INTRODUCTION 92. MACROECONOMIC AND FINANCIAL DEVELOPMENTS 112.1 Macroeconomic Developments 112.2 Financial Market Developments 173. PROGRAMME IMPLEMENTATION 213.1. Fiscal Developments and Policy Outlook 213.1.1. Fiscal outcome for 2013 213.1.2. Fiscal outlook in 2014 243.1.3. MTFS and Fiscal Outlook for 2015-2017 253.2. Structural reforms with budgetary relevance 263.2.1. Privatising to boost efficiency in the economy and reduce public debt 263.2.2. Tax policy reform 303.2.3. Revenue administration reforms 333.2.4. Anti-Corruption Strategy 353.2.5. Public Financial Management Reform 353.2.6. Making the public administration more efficient and effective 383.2.7. Modernising the healthcare system 393.2.8. Reforming the pensions system 433.2.9. Upgrading the education system 443.2.10. Research, development and innovation 453.3. Stabilising the financial system 453.4. Strengthening labour market institutions, promoting employment anddevelopping social safety nets 473.4.1. Labour market reforms 473.4.2. Social safety nets 503.5. Creating favourable conditions for economic activity 513.5.1. Promoting an efficient and competitive business environment 523.5.2. The Retail Sector 553.5.3. Regulated professions and professional qualifications 553.5.4. Reforming the judicial system to support economic activity 593.6. Efficient Network Industries 603.6.1. Energy policy 603.6.2. Electronic communications 623.6.3. Transport 633.7. Increasing the impact of structural and cohesion funds 633.8. Agriculture and Rural development 643.9. Technical Assistance 654. Debt sustainability analysis and programme financing 674.1. Debt Sustainabilty Analysis 674.1.1. Baseline and stress scenarios 674.2. Programme Financing 69i