1. AWG 2018 exercise: Purpose and key fiscal sustainability indicators
European Commission

2. 2018 Ageing Report (1)
Joint Commission (ECFIN)-EPC (AWG) long-term projection exercise – 2018 Ageing Report
Sixth update of the joint EPC-Commission long-term projections (previous 2001, 2006, 2009, 2012 and 2015).
Mandate of the ECOFIN Council (May 2015)
" The Council INVITES the Economic Policy Committee to update, on the basis of new population projections to be provided by Eurostat, in close cooperation with the National Statistical Institutes (NSIs), its analysis of the economic and budgetary implications of population ageing by the autumn of 2018"

3. 2015 Ageing Report
2015 Ageing Report: Economic and budgetary projections for the 28 EU Member States ( )
Published on 12 May
Council (ECOFIN) conclusions adopted on the same day

4. Large differencies across Member States
Confirm that population ageing put upward pressure on public spending in the EU( )
Large differencies across Member States

5. Fiscal Sustainability Report 2015
Published on 26 January
Available on DG ECFINs web-site
Council (ECOFIN) conclusions adopted on 8 March
Latest update: Debt Sustainability Monitor 2016
Published in January 2017

6. DSM 2016: multi-dimensional approach to fiscal sustainability
Sustainability challenges assessed:
Over the short run (S0 indicator)
Over the medium run (S1 indicator + debt sustainability analysis, DSA)
Over the long run (S2 indicator)
Other aspects considered: structure of public debt, public gross financing needs, contingent liabilities, public assets

7. Overall sustainability assessment in the DSM 2016 (in bracket, FSR 2015 classification if different)
Short-term : no country at high risk
Medium term: 12 countries at high risk, 4 at medium risk
- Few classification changes (Up: HU, PL, Down: IE, RO, NL)
Long term: 1 country at high risk (SI), 13 countries at medium risk

8. Next steps
2018 Ageing Report on underlying assumptions: September 2017
2018 Ageing Report with budgetary projections: Q1-2018