Recommendation for a COUNCIL RECOMMENDATION on the 2020 National Reform Programme of France and delivering a Council opinion on the 2020 Stability Programme of France
Date: 2020-05-20
Institutions: European Commission, Secretariat-General
Subjects: France, aid to undertakings, economic policy, economic recovery, economic reform, employment aid, epidemic, infectious disease, investment, stability pact, stability programme

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   EUROPEAN COMMISSION  Brussels, 20.5.2020  COM(2020) 510 final  Recommendation for a COUNCIL RECOMMENDATION on the 2020 National Reform Programme of France and delivering a Council opinion on the 2020 Stability Programme of France  
 
Recommendation for a 

COUNCIL RECOMMENDATION 

on the 2020 National Reform Programme of France and delivering a Council opinion on 
the 2020 Stability Programme of France 

THE COUNCIL OF THE EUROPEAN UNION, 

Having  regard  to  the  Treaty  on  the  Functioning  of  the  European  Union,  and  in  particular 
Articles 121(2) and 148(4) thereof, 

Having regard to Council Regulation (EC) No 1466/97 of 7 July 1997 on the strengthening of 
the  surveillance  of  budgetary  positions  and  the  surveillance  and  coordination  of  economic 
policies1, and in particular Article 5(2) thereof, 

Having  regard  to  Regulation  (EU)  No  1176/2011  of  the  European  Parliament  and  of  the 
Council  of  16  November  2011  on  the  prevention  and  correction  of  macroeconomic 
imbalances2, and in particular Article 6(1) thereof, 

Having regard to the recommendation of the European Commission, 

Having regard to the resolutions of the European Parliament, 

Having regard to the conclusions of the European Council, 

Having regard to the opinion of the Employment Committee, 

Having regard to the opinion of the Economic and Financial Committee, 

Having regard to the opinion of the Social Protection Committee, 

Having regard to the opinion of the Economic Policy Committee, 

Whereas: 

(1) 

(2) 

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3 

On  17  December  2019,  the  Commission  adopted  the  Annual  Sustainable  Growth 
Strategy,  marking  the  start  of  the  2020  European  Semester  for  economic  policy 
coordination. It took due account of the European Pillar of Social Rights, proclaimed 
by the European Parliament, the Council and the Commission on 17 November 2017. 
On  17  December  2019,  on  the  basis  of  Regulation  (EU)  No  1176/2011,  the 
Commission also adopted the Alert Mechanism Report, in which it identified France 
as one of the Member States for which an in-depth review would be carried out. On 
the  same  date,  the  Commission  also  adopted  a  recommendation  for  a  Council 
recommendation on the economic policy of the euro area. 
The 2020 country report for France3 was published on 26 February 2020. It assessed 
France’s progress in addressing the country-specific recommendations adopted by the 

OJ L 209, 2.8.1997, p. 1. 
OJ L 306, 23.11.2011, p. 25. 
SWD(2020) 509 final. 

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(3) 

(4) 

(5) 

Council  on  9  July  20194,  the  follow-up  given  to  the  recommendations  adopted  in 
previous years and France's progress towards its national Europe 2020 targets. It also 
included  an  in-depth  review  under  Article  5  of  Regulation  (EU)  No  1176/2011,  the 
results of which were also published on 26 February 2020. The Commission’s analysis 
led  it  to  conclude  that  France  is  experiencing  macroeconomic  imbalances.  In 
particular, these related to high public debt and weak competitiveness dynamics, in a 
context of low productivity growth, carrying cross-border relevance. 

On 11 March 2020, the World Health Organization officially declared the COVID-19 
outbreak  a  global  pandemic.  It  is  a  severe  public  health  emergency  for  citizens, 
societies  and  economies.  It  is  putting  national  health  systems  under  severe  strain, 
disrupting  global  supply  chains,  causing  volatility  in  financial  markets,  triggering 
consumer  demand  shocks  and  having  negative  effects  across  various  sectors.  It  is 
threatening  people’s  jobs,  their  incomes  and  companies’  business.  It  has  delivered  a 
major  economic  shock  that  is  already  having  serious  repercussions  in  the  European 
Union. On 13 March 2020, the Commission adopted a Communication5 calling for a 
coordinated economic response to the crisis, involving all actors at national and Union 
level. 

Several  Member States have declared a state of  emergency or introduced emergency 
measures.  Any  emergency  measures  should  be  strictly  proportionate,  necessary, 
limited in time, and in line with European and international standards. They should be 
subject to democratic oversight and independent judicial review. 

On  20  March  2020,  the  Commission  adopted  a  Communication  on  the  activation  of 
the general escape clause of the Stability and Growth Pact6. The clause, as set out in 
Articles 5(1), 6(3), 9(1) and 10(3) of Regulation  (EC) 1466/97 and Articles 3(5) and 
5(2) of Regulation (EC) 1467/97, facilitates the coordination of budgetary policies in 
times  of  severe  economic  downturn.  In  its  Communication,  the  Commission  shared 
with the Council its view that, given the expected severe economic downturn resulting 
from  the COVID-19 outbreak, the  current  conditions  permit  activation of the clause. 
On  23  March  2020,  the  Ministers  of  Finance  of  the  Member  States  agreed  with  the 
assessment of the Commission. The activation of the general escape clause allows for 
a temporary departure from the adjustment path  towards the medium-term budgetary 
objective,  provided  that  this  does  not  endanger  fiscal  sustainability  in  the  medium 
term. For the corrective arm, the Council may also decide, on a recommendation from 
the Commission,  to  adopt  a revised  fiscal  trajectory. The  general  escape  clause does 
not suspend the procedures of the Stability and Growth Pact. It allows Member States 
to depart from the budgetary requirements that would normally apply while enabling 
the  Commission  and  the  Council  to  undertake  the  necessary  policy  coordination 
measures within the framework of the Pact. 

(6) 

Continued  action  is  required  to  limit  and  control  the  spread  of  the  pandemic, 
strengthen  the  resilience  of  the  national  health  systems,  mitigate  the  socio-economic 
consequences through supportive measures for business and households and to ensure 
adequate  health  and  safety  conditions  at  the  workplace  with  a  view  to  resuming 
economic  activity.  The  Union  should  fully  use  the  various  tools  at  its  disposal  to 
support  Member  States’  efforts  in  those  areas.  In  parallel,  Member  States  and  the 

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OJ C 301, 5.9.2019, p. 117. 
COM(2020) 112 final. 
COM(2020) 123 final. 

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(7) 

(8) 

(9) 

Union should work together to prepare the measures necessary to get back to a normal 
functioning of our societies and economies and to sustainable growth, integrating inter 
alia  the  green  transition  and  the  digital  transformation,  and  drawing  all  lessons  from 
the crisis. 

The  COVID-19  crisis  has  highlighted  the  flexibility  that  the  single  market  offers  to 
adapt  to  extraordinary  situations.  However,  in  order  to  ensure  a  swift  and  smooth 
transition to the recovery phase and the free movement of goods, services and workers, 
exceptional  measures that prevent  the single market  from  functioning  normally must 
be removed as soon as they are no longer indispensable. The current crisis has shown 
the need for crisis preparedness plans in the health sector, which include in particular 
improved  purchasing  strategies,  diversified  supply  chains  and  strategic  reserves  of 
essential  supplies.  They  are  key  elements  for  developing  broader  crisis  preparedness 
plans. 
The  Union  legislator  has  already  amended  the  relevant  legislative  frameworks7  to 
allow  Member  States  to  mobilise  all  unused  resources  from  the  European  Structural 
and  Investment  Funds  so  they  can  address  the  exceptional  effects  of  the  COVID-19 
pandemic. Those amendments will provide additional flexibility, as well as simplified 
and streamlined procedures. To alleviate cash flow pressures, Member States can also 
benefit  from  a  100%  co-financing  rate  from  the  Union  budget  in  the  2020-2021 
accounting  year. France  is  encouraged to make full use of those possibilities to  help 
the individuals and sectors most affected by the challenges. 

The  socio-economic  consequences  of  the  pandemic  are  likely  to  be  unevenly 
distributed  across  regions  due  to  different  specialisation  patterns,  in  particular  in 
regions markedly relying on tourism - like the outermost regions - and more generally 
on  face-to-face  business  to  consumers.  This  entails  a  substantial  risk  of  widening 
regional  and  territorial  disparities  within  France,  aggravating  the  already  observed 
trend  of  slowly  widening  disparities  between  the  capital  region,  large  cities  and  the 
rest of the country, between urban and rural areas and between the metropole and the 
outermost  regions.  Combined  with  the  risk  of  a  temporary  unravelling  of  the 
convergence  process  between  Member  States,  the  current  situation  calls  for  targeted 
policy responses. 

(10)  On 7 May 2020,  France submitted its 2020 National  Reform  Programme and, on 30 
April  2020,  its  2020  Stability  Programme.  In  order  to  take  account  of  their 
interlinkages, the two programmes have been assessed at the same time. 

(11)  France is currently in the preventive arm of the Stability and Growth Pact and subject 
to  the  transitional  debt  rule.  On  13  July  2018,  the  Council  recommended  France  to 
ensure that the nominal growth rate of net primary government expenditure8 does not 

7 
Regulation (EU) 2020/460 of the European Parliament and of the Council of 30 March 2020 amending 
Regulations  (EU)  No  1301/2013,  (EU)  No  1303/2013  and  (EU)  No  508/2014  as  regards  specific  measures  to 
mobilise  investments  in  the  healthcare  systems  of  Member  States  and  in  other  sectors  of  their  economies  in 
response to the COVID-19 outbreak (Coronavirus Response Investment Initiative) (OJ L 99, 31.3.2020, p. 5) and 
Regulation  (EU)  2020/558  of  the  European  Parliament  and  of  the  Council  of  23  April  2020  amending 
Regulations  (EU)  No  1301/2013  and  (EU)  No  1303/2013 as  regards  specific  measures  to  provide  exceptional 
flexibility for the use of the European Structural and Investments Funds in response to the COVID-19 outbreak 
(OJ L 130, 24.4.2020, p. 1). 
8 
Net  primary  government  expenditure  comprises  total  government  expenditure  excluding  interest 
expenditure,  expenditure  on  Union  programmes  fully  matched  by  Union  funds  revenue  and  non-discretionary 

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(12) 

(13) 

exceed  1,4%  in  2019,  corresponding  to  an  annual  structural  adjustment  of  0,6  %  of 
GDP. The Commission’s overall assessment confirms a significant deviation from the 
recommended adjustment path towards the medium-term budgetary objective in 2019 
and  over  2018  and  2019  taken  together.  This  is  a  relevant  factor  in  the  Commission 
report  prepared  in  accordance  with  Article  126(3)  of  the  Treaty  assessing  France’s 
compliance with the debt criterion in 2019. 

In  its  2020  Stability  Programme,  the  government  plans  the  headline  balance  to 
deteriorate from a deficit of 3,0% of GDP in 2019 to a deficit of 9,0% of GDP in 2020. 
After stabilising at 98,1% of GDP in 2019, the general government debt-to-GDP ratio 
is expected to increase to 115,2% in 2020 according to the 2020 Stability Programme. 
The  macroeconomic  and  fiscal  outlook  is  affected  by  high  uncertainty  due  to  the 
COVID-19 pandemic.   

In response to the COVID-19 pandemic, and as part of a coordinated Union approach, 
France has adopted budgetary measures to increase the capacity of its health system, 
contain  the  pandemic,  and  provide  relief  to  those  individuals  and  sectors  that  have 
been  particularly  affected.  According  to  the  2020  Stability  Programme,  those 
budgetary measures amount to 1,9% of GDP. Those measures include: the funding of 
partial unemployment scheme for 1,1% of GDP; 0,4% of GDP additional expenditure 
to  strengthen  health  care  services,  health  insurance  allowances  and  compensation  of 
healthcare personnel; creation of a solidarity fund for 0,3% of GDP to provide direct 
support  to  small  and  very  small  enterprises  as  well  as  self-employed.  In  addition, 
France has announced measures that, while not having a direct budgetary impact, will 
contribute  to  support  liquidity  to  businesses,  which  the  2020  Stability  Programme 
estimates at 17% of GDP. Those measures include tax and social charges deferrals for 
companies; accelerated refund of tax and VAT credit; creation of a dedicated reserve 
for  direct  support  to  strategic  companies  via  equity  investment  (3,1%  of  GDP)  and 
loan  guarantees  (13,9%  of  GDP).  Overall,  the  measures  taken  by  France  are  in  line 
with  the  guidelines  set  out  in  the  Commission  Communication  on  a  coordinated 
economic  response  to  the  COVID-19  outbreak.  The  full  implementation  of  those 
measures,  followed  by  a  refocusing  of  fiscal  policies  towards  achieving  prudent 
medium-term  fiscal  positions  when  economic  conditions  allow,  will  contribute  to 
preserving fiscal sustainability in the medium term. 

(14)  Based  on  the  Commission  2020  spring  forecast  under  unchanged  policies,  France’s 
general government balance is forecast at -9,9% of GDP in 2020 and -4,0% in 2021. 
The general government debt ratio is projected to reach 116,5 % of GDP in 2020 and 
111,9% in 2021.  

(15)  On 20 May 2020, the Commission issued a report prepared in accordance with Article 
126(3) of the  Treaty  due to  France’s non-compliance  with  the debt  rule in 2019 and 
the planned breach of the 3% of GDP deficit threshold in 2020. Overall, the analysis 
suggests that the deficit and debt criterion as defined in the Treaty and in Regulation 
(EC) No 1467/1997 are not fulfilled. 

(16)  The  French  health  system  is  effective  in  achieving  good  outcomes.  However,  the 
COVID-19  crisis  has  highlighted  shortcomings  in  system  preparedness  to  address 
pandemic  outbreaks.  These  include:  i)  difficulties  in  ensuring  that  health  workers, 

changes  in  unemployment  benefit  expenditure.  Nationally  financed  gross  fixed  capital  formation  is  smoothed 
over a four-year period. Discretionary revenue measures or revenue increases mandated by law are factored in. 
One-off measures on both the revenue and expenditure sides are netted out. 

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critical supplies and personal protective equipment are readily available, as well as ii) 
latent  structural  problems.  Regarding  the  former,  France  mobilised  its  reserve  of 
medical and para-medical staff and equipment, including medical students and retired 
doctors and nurses. Coordinating the response across all segments of the health system 
remains a challenge. Regarding the latter, these are the result of a lack of investment in 
physical infrastructures and human resources, limited adaptation in the organisation of 
services;  and  the  need  for  better  coordination  between  private  and  public  actors. 
Challenges are aggravated by persisting regional disparities. For instance, despite the 
share  of  practising  doctors  being  around  the  Union  average,  about  18%  of  France’s 
population  lives  in  areas  where  access  to  a  general  practitioner  is  limited.  Further 
decisive efforts to digitalise health services, a cornerstone of the government’s strategy 
for transforming the health system, are required. The COVID-19 crisis is showing that 
better use of e-Health, in particular telemedicine, is important in times of pandemic. 

(17)  The COVID-19 crisis is having a negative impact on French labour market and social 
conditions. Despite having taken mitigation measures, unemployment is set to rise(to 
10.1%  in  2020  according  to  the  Commission  forecast,  to  then  recover  to  9.7%  in 
2021). These measures include amending and extending the short-time work scheme, 
as well as measures adopted to support firms and workers and ensuring the functioning 
of  public  services  and  the  health  system.  Persistent  labour  market  segmentation 
remains a source of concern. In 2019, around two thirds of new recruitments were on 
short-time  contracts  of  less  than  one  month.  The  transition  rate  from  short-time  to 
open-ended  contacts  is  one  of  the  lowest  in  the  Union.  The  recent  reform  of  the 
unemployment benefit system (Unédic) aimed to strengthen the financial sustainability 
of  the  system  and  to  address  segmentation.  However,  parts  of  the  reform  related  to 
indemnisation rules have been put on hold due to the crisis. In light of the deteriorated 
context, it is important to ensure that unemployment benefits, as well as active support 
to  employment,  are  available  to  all  jobseekers,  irrespective  of  previous  employment 
status. To address skills mismatches and improve the resilience of the labour market, 
efforts  should  continue  to  promote  the  reallocation  of  the  workforce  across 
sectors.Before the COVID-19 outbreak, employers increasingly reported difficulties in 
finding suitable  candidates to  recruit,  pointing to the need to  promote upskilling and 
reskilling.  For  instance,  while  the  Information  Technology  sector  is  particularly 
affected  by  skills  shortages,  its  graduates  only  represent  3%  of  the  total  number  of 
graduates. 

(18) 

In  the  context  of  the  COVID-19  crisis,  it  is  particularly  important  to  ensure  the 
functioning  of  critical  infrastructure  and  the  free  circulation  of  goods  throughout  the 
single  market  and  to  monitor  and  ensure  the  correct  functioning  of  supply  chains  in 
cooperation with neighbouring countries. To this end, lifting measures adopted during 
the COVID-19 crisis, in particular export restrictions of some medical substances and 
products, will contribute to address the needs of citizens across the Union coherently 
and  in  a  spirit  of  solidarity,  avoid  the  risk  of  shortages  and  disruptions  of  supply 
chains,  and  ultimately,  pave  the  way  to  a  successful  Union  coordinated  COVID-19-
exit strategy. 

(19)  France  has  adopted  many  schemes  to  support  the  liquidity  of  firms,  including  under 
the temporary framework for State aid measures to support the economy in the current 
COVID-19 outbreak9. Effective and efficient implementation of such schemes is key 

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OJ C 91I , 20.3.2020, p. 1–9 

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to  ensure  that  firms,  and  in  particular  small  and  medium-sized  enterprises  (SMEs), 
benefit from them. In the process of designing and implementing these measures the 
resilience of the banking sector needs to be taken into account. 

(20)  France’s overall business environment has improved but France needs to continue its 
efforts  to  simplify  its  tax  system  and  reduce  the  administrative  burden  for  firms, 
particularly if it is to support an effective economic recovery in the medium-term. For 
instance,  according  to  the  Commission’s  assessment  and  confirmed  by  the  OECD’s 
2018  Product  Market  Regulation  indicators,  despite  progress  and  the  adoption  of 
several measures in the services sector, regulatory restrictions remain higher in France 
compared  to  other  Member  States,  particularly  for  business  services,  many  of  which 
are  regulated  professions,  and  in  retail.  As  one  of  the  most  affected  sectors,  the 
services  sector  will  play  a  major  role  in  exiting  and  recovering  from  the  crisis. 
Redesigning  requirements  for  the  access  to  and  exercise  of  services  activities  would 
stimulate innovation, competition and professional mobility, having a positive overall 
economic impact. Regulatory flexibility could also boost a rebound of retail activity in 
the aftermath of COVID-19. 

(21)  To  foster  the  economic  recovery,  it  will  be  important  to  front-load  mature  public 
investment  projects  and  promote  private  investment,  including  through  relevant 
reforms.  This  could  be  in  identified  European  Green  Deal  priorities,  in  particular  in 
low-carbon transport initiatives, renewable energy and building renovations. Together 
with  the  digital  transformation  of  the  economy  this  could  help  bring  short-term 
stimulus to the recovery and the medium-term aftermath of the COVID-19 crisis and 
put  France  on  a  sustainable  long  term  climate  neutral  path  while  promoting 
technological  leadership.  Preparatory  work  for  recovery  measures  could  rely  on 
France’s  National  Energy  and  Climate  Plan,  Projects  of  Common  Interest  and 
infrastructure  development  plans.  Further  investments  in  energy  infrastructures, 
including  in  electricity  interconnections,  would  contribute  to  improve  integration  of 
the internal Union energy market, while introducing more competition and facilitating 
the deployment of renewable energy. The programming of the Just Transition Fund for 
the period 2021-2027 could  help  France to  address  some of the  challenges  posed by 
the transition to a climate neutral economy, in particular in the territories covered by 
Annex D to the country report10. This would allow France to make the best use of that 
fund. 

(22)  During  the  lockdown,  digitalisation  has  proven  vital  in  maintaining  access  to 
governmental, educational and medical services, and in preserving economic activity, 
through  teleworking  and  e-commerce.  In  the  medium  term,  digitalisation  provides 
greater  opportunities  for  firms,  in  particular  SMEs,  to  recover  and  grow  by  bringing 
them  into  contact  with  more  potential  customers,  improving  the  efficiency  of 
production  processes,  and  providing 
in 
digitalisation 
the  wider 
populations’ digital skills, in particular the working population. The implementation of 
France’s plan for very high-speed broadband (Plan France Très Haut Débit) appears 
to  be  on-track  with  regards  to  urban  areas.  However,  important  very  high  speed 
network coverage disparities in other areas remain. 

include  providing  adequate 

innovate.  Investments 

infrastructure, 

improving 

incentives 

to 

(23)  France  has  a  strong  research  base  and  potential  to  engage  in  specific  research  and 
innovation-related  measures  to  respond  to  the  COVID-19  crisis,  including  the 

10 

SWD(2020) 509 final. 

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development  of  vaccines  and  medicines.  The  COVID-19  crisis  and  its  aftermath 
require  strengthened  cooperation  in  research  and  innovation  between  the  public  and 
private  sectors.  In  the  medium-term,  investment  in  research  and  innovation  could 
unlock productivity gains, as pointed out by the French National Productivity Board. It 
is  also  needed  in  growth-enhancing  sectors  to  allow  firms  to  seize  the  opportunities 
offered by the transformation of the European economy. 

to  address  medium- 

(24)  While the present recommendations focus on tackling the socio-economic impacts of 
the  pandemic  and  facilitating  the  economic  recovery,  the  2019  country-specific 
recommendations adopted by the Council on 9 July 2019 also covered reforms that are 
essential 
structural  challenges.  Those 
recommendations remain pertinent and will continue to be monitored throughout next 
year’s  European  Semester  annual  cycle.  That  also  applies  to  recommendations 
regarding investment-related economic policies. The latter recommendations should be 
taken  into  account  for  the  strategic  programming  of  cohesion  policy  funding  post-
2020, including for mitigating measures and exit strategies with regard to the current 
crisis. 

long-term 

to 

(25)  The  European  Semester  provides  the  framework  for  continuous  economic  and 
employment  policy  coordination  in  the  Union,  which  can  contribute  to  a  sustainable 
economy.  Member  States  have  taken  stock  of  progress  regarding United  Nations’ 
Sustainable  Development  Goals  (SDGs)  implementation  in  their  2020  National 
Reform  Programmes.  By  ensuring  the  full  implementation  of  the  recommendations 
below,  France  will  contribute  to  the  progress  towards  the SDGs and  to  the  common 
effort of ensuring competitive sustainability in the Union.  

(26)  Close coordination between economies in the economic and monetary union is key to 
achieve a swift recovery from the economic impact of the COVID-19. France should, 
as  a  Member  State  whose  currency  is  the  euro  –  and  taking  into  account  political 
guidance by the Eurogroup – ensure its policies remain consistent with the euro area 
recommendations and coordinated with those of the other euro area Member States. 

(27) 

(28) 

(29) 

In  the  context  of  the  2020  European  Semester,  the  Commission  has  carried  out  a 
comprehensive  analysis  of  France’s  economic  policy  and  published  it  in  the  2020 
country  report.  It  has  also  assessed  the  2020  Stability  Programme  and  the  2020 
National  Reform  Programme  and  the  follow-up  given  to  the  recommendations 
addressed  to  France  in  previous  years.  It  has  taken  into  account  not  only  their 
relevance  for  sustainable  fiscal  and  socioeconomic  policy  in  France,  but  also  their 
compliance with Union rules and guidance, given the need to strengthen the Union’s 
overall  economic  governance  by  providing  Union-level  input  into  future  national 
decisions.  

In  the  light  of  that  assessment,  the  Council  has  examined  the  2020  Stability 
Programme and its opinion11 reflected in particular in recommendation (1) below.  

In the light of the Commission’s in-depth review and this assessment, the Council has 
examined  the  2020  National  Reform  Programme  and  the  2020  Stability  Programme. 
The present  recommendations  take into account the need to  tackle the pandemic and 
facilitate  the  economic  recovery  as  a  first  necessary  step  to  permit  an  adjustment  of 
imbalances.  Recommendations  directly  addressing  the  macroeconomic  imbalances 

11 

Under Article 5(2) of Council Regulation (EC) No 1466/97. 

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identified by the Commission under Article 6 of  Regulation  (EU) No 1176/2011  are 
reflected in recommendations (1), (3) and (4), 

HEREBY RECOMMENDS that France take action in 2020 and 2021 to: 

1. 

2. 

3. 

4. 

In  line  with  the  general  escape  clause,  take  all  necessary  measures  to  effectively 
address the pandemic, sustain the economy and support the ensuing recovery. When 
economic  conditions  allow,  pursue  fiscal  policies aimed  at  achieving  prudent 
medium-term  fiscal  positions  and  ensuring  debt  sustainability, while  enhancing 
investment.  Strengthen  the  resilience  of  the  health  system  by  ensuring  adequate 
supplies  of  critical  medical  products  and  a  balanced  distribution  of  health  workers, 
and by investing in e-Health.  

Mitigate  the  employment  and  social  impact  of  the  crisis,  including  by  promoting 
skills and active support for all jobseekers.  

Ensure the effective implementation of measures supporting the liquidity of firms, in 
particular  for  small  and  medium-sized  enterprises.  Front-load  mature  public 
investment projects and promote private investment to foster the economic recovery. 
Focus  investment  on  the  green  and  digital  transition,  in  particular  on  sustainable 
transport,  clean  and  efficient  production  and  use  of  energy,  energy  and  digital 
infrastructures as well as research and innovation. 

Continue to  improve the regulatory environment, reduce administrative burdens for 
firms and simplify the tax system. 

Done at Brussels, 

For the Council 
The President 

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