“The stability pact will return in 2023”. Dombrovskis’ announcement

by time news

AGI – “Also on the basis of the spring economic forecasts, we can confirm our general approach of keeping the general safeguard clause active (which suspends the Stability Pact, ed) in 2022 but no longer in 2023”. This was stated by the vice president of the European Commission, Valdis Dombrovskis, at the end of the Ecofin meeting in Lisbon.

“With the gradual lifting of restrictions and the advancement of vaccination campaigns, member states can expect a fairly strong rebound of the economy in the second half of the year and into 2022,” he said on arrival.

“The European Commission has two months to evaluate the recovery and resilience plans, we can somehow speed up this process but not that much because we have already received 18 plans and more will arrive. They are complicated documents and their evaluation takes time” he said. Dombrovskis said again “In any case, we aim for the second half of June. It will then depend on how long the Council will take for its approval procedures. Hopefully, including the ratification procedures, we can expect the first funds in July” , he added.

.

You may also like

Leave a Comment