Print Magazine
Brussels Morning Newspaper
Thursday, August 18, 2022
No Result
View All Result
  • Home
    • About Us
  • EU institutions
    • Commission
    • Parliament
    • Council
  • Europe
  • World
  • Economy
  • Culture and Society
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Europe With Transparency
    • Sustainable Perspective
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
Brussels Morning Newspaper
  • Home
    • About Us
  • EU institutions
    • Commission
    • Parliament
    • Council
  • Europe
  • World
  • Economy
  • Culture and Society
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Europe With Transparency
    • Sustainable Perspective
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
Brussels Morning Newspaper
No Result
View All Result
Home EU Institutions Commission

EC to keep national borrowing limits suspended in 2022

Nikola Kiš by Nikola Kiš
4 March 2021
in Commission
EC to keep national borrowing limits suspended in 2022
Share on FacebookShare on Twitter

Brussels (Brussels Morning) The European Commission has advised that the EU should continue to suspend national borrowing limits next year in order to help the bloc’s economies recover from the coronavirus crisis, Reuters reports.

European Commissioner for Economy, Paolo Gentiloni, stressed that the EU would maintain “a supportive fiscal policy”, noting that this is in line with what large world economies are doing.

The limit was suspended in 2020

The EU suspended budget limit rules last year in response to the coronavirus pandemic, using the general escape clause of the Stability and Growth Pact.

The EC stressed that its recommendation is intended to help EU member states prepare their fiscal strategies by April.

“Today, the Commission states clearly that pulling back support too quickly would be a policy mistake”, Gentiloni observed, adding that “the best way to secure public debt sustainability is to support the recovery”.

According to EC forecasts, the bloc’s economic output should reach 2019 levels in mid-2022, with the Commission proposing to de-activate the emergency clause in 2023.

The Commission stated that “in case a member state has not recovered to the pre-crisis level of economic activity, all the flexibilities within the Stability and Growth Pact will be fully used, in particular when proposing fiscal policy guidance”.

Final decision in May

The EC is to issue an economic forecast in May, after which EU finance ministers will have the final say about whether to keep borrowing limits suspended through 2022.

EC Vice President Valdis Dombrovskis stressed the importance of becoming less reliant on support on a gradual basis. He cautioned that EU member states with high debt should be careful about the supportive policies they implement, advising that they use EU grants to finance investment projects.

He noted that EU member states with relatively low debt could afford more supportive policies to help their respective economies weather the coronavirus crisis and recover from it faster.

Latest post

Afghanistan: One year of agony

Afghanistan: One year of agony

2 days ago
EU burned areas reach new high due to wildfires

EU burned areas reach new high due to wildfires

2 days ago

Most Read

  • Losing Balance on Bosnia and Herzegovina

    Losing Balance on Bosnia and Herzegovina

    0 shares
    Share 0 Tweet 0
  • What Are The Highest Paying Jobs In Finland?

    0 shares
    Share 0 Tweet 0
  • Here Are 10 Highest Paying Jobs In Norway 

    0 shares
    Share 0 Tweet 0
  • What Are The Highest Paying Jobs In Luxembourg?

    0 shares
    Share 0 Tweet 0
  • These are the 10 highest paying jobs in the Europe in 2022

    0 shares
    Share 0 Tweet 0
Facebook Twitter Youtube LinkedIn

About Us

Brussels Morning is a daily online newspaper based in Belgium. BM publishes unique and independent coverage on international and European affairs. With a Europe-wide perspective, BM covers policies and politics of the EU, significant Member State developments, and looks at the international agenda with a European perspective.

Category

  • Ambassador’s Corner
  • Belgium News
  • Brussels
  • Commission
  • Council
  • Culture and Society
  • Diplomacy
  • Economy
  • EU Institutions
  • Europe
  • Europe With Transparency
  • Features
  • In Depth
  • Member States
  • Middle East Eye
  • Opinion
  • Our pick
  • Parliament
  • Place de la Bourse
  • Southeast Europe
  • Sustainable Perspective
  • The American Angle
  • The Macro-Economist
  • Uncategorised
  • US Elections
  • World

More info

  • About Us
  • Advertising
  • Cookies Policy
  • Contact Us
  • FAQ
  • Jobs

Brussels Morning Newspaper - All Rights Reserved © 2020

No Result
View All Result
  • Home
  • About Us
  • EU Institutions
    • Parliament
    • Commission
    • Council
  • Europe
  • World
  • Member States
  • Economy
  • Culture and Society
  • In Depth
    • Ambassador’s Corner
    • Europe With Transparency
    • Place de la Bourse
    • The Macro-Economist
    • Sustainable Perspective
    • The American Angle
    • Southeast Europe
  • Print Magazine

Brussels Morning Newspaper - All Rights Reserved © 2020

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT