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HAGUE nike cortez danmark , June 2 (Xinhua) -- The Netherlands is no longer subject to budget surveillance of the European Union after its budget deficit was sufficiently reduced to below 3 percent of gross domestic product (GDP), the European Commission stated Monday.


The Dutch government was subject to increased surveillance under the so-called excessive deficit procedure (EDP) for five years because its public finances were deemed not in order.


In 2009, the budget deficit peaked at 5.6 percent of GDP which was reduced to 2.5 percent of GDP in 2013.


With this reduction, the Netherlands has met the EU requirement earlier than planned in 2014. The European Commission projects that the general government deficit will reach 2.8 percent of GDP in 2014 and 1.8 percent of GDP in 2015.


In 2009 nike air huarache tilbud , the Netherlands received three years to set things right. Ultimately, this period was extended by one year because economic growth in Europe was too slow.


Dutch Minister of Finance Jeroen Dijsselbloem stressed the importance of reducing the deficit further. "The European Commission has reaffirmed that the Netherlands is on the right track with getting rid of the budget deficit," Dijsselbloem told Dutch broadcaster NOS.


"The expected 1.8 percent in 2015 cannot be our final goal. It is important to further reduce the deficit," he said.


The European Commission on Monday also recommended the EU close the EDP for five other countries: Austria nike air max 97 sort , Belgium, Czech Republic, Denmark and Slovakia.


If the Council of the European Union follows the recommendations, the overall number of countries in the EDP will drop to 11 nike air max 97 blå , among which are France and Spain.


BERLIN, May 26 (Xinhua) -- Consumer confidence in Germany remained stable despite the ongoing crisis in Ukraine, but risks to the Europe's largest economy still existed, a survey showed on Monday.


Market research institute GfK found its forward-looking indicator for consumers' morale stood at 8.5 points for the fourth straight month into June nike air max 97 hvid , and the indicator for German economic outlook in May climbed to 38.5 points, the highest level since July 2011.


"Events in eastern Ukraine ... evidently did not have a lasting impact on the economic mood in Germany recently," said the Nuremberg-based institute in a statement.


It said German consumers' optimism towards economic development was strengthened by a continued increase in employment, which vans slip on hvid , together with high income expectation and moderate inflation, made Germans more willing to open their wallet.


German Federal Statistical Office confirmed last week that German gross domestic product (GDP) increased by 0.8 percent in the first quarter, leading the recovery of European economy. The growth was solely contributed by domestic demand, such as private consumption and government spending vans slip on tilbud , and helped guarantee an employment of 41.7 million people.


GfK forecasted that private consumption would increase by 1.5 percent in 2014 and continue to support economic expansion in Germany.


The institute warned that external uncertainties for German economy still existed. "The consumer climate would be affected if energy prices increase significantly as a result of tougher economic sanctions being imposed on Russia," it said, adding that households would then be forced to cut their private spending and allocate more of their budget to natural gas and heating oil.


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