“The Annual Growth Survey launches the European Semester by setting out the broad EU economic priorities for the year to come. It is the first step in the annual cycle. The biggest challenge now facing Europe’s economy is how to sustain the recovery that is now underway. This is the main message of the 2014 Annual Growth Survey adopted by the Commission. Its adoption kicks off the fourth European Semester of economic policy coordination in an environment where growth is beginning to return and Member States are making progress on correcting the imbalances that developed before the crisis. That is why the Commission maintains its balanced strategy for growth and jobs, and its focus on five main priorities over the coming year:1. Pursuing differentiated, growth-friendly fiscal consolidation1. Pursuing differentiated, growth-friendly fiscal consolidation