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1. Indicators to report on the progress of the Programme towards the achievement of the specific objectives laid down in Article 3(2) are set out in Annex IV.

2. When reporting on the progress of the implementation of the specific objective referred to in Article 3(2)(b), the Commission shall present relevant contextual indicators, extracted from the SME performance review, from the Small Business Act factsheets and from any other relevant source, together with the indicators referred to in paragraph 1.

3. To ensure the effective assessment of the Programme’s progress towards the achievement of its objectives, the Commission is empowered to adopt delegated acts, in accordance with Article 20, to amend Annex IV with regard to the indicators, where considered necessary, as well as to supplement this Regulation with provisions on the establishment of a monitoring and evaluation framework.

4. The performance reporting system shall ensure that data for monitoring the implementation and the results of the Programme are collected efficiently, effectively and in a timely manner. To that end, proportionate reporting requirements shall be imposed on recipients of Union funds and, where appropriate, on Member States.