This paper analyses inflation and competitiveness developments in selected EU countries, as input to the 2023 In-Depth Reviews under the Macroeconomic Imbalance Procedure.
This paper reviews house price dynamics, mortgage markets, and household debt for EU Member States facing particular housing market challenges, as input to the 2023 In-Depth Reviews under the Macroeconomic Imbalance Procedure.
This paper analyses common factors that are affecting the external flows of selected EU countries, as input to the 2023 In-Depth Reviews under the Macroeconomic Imbalance Procedure.
Brussels Economic Forum: one month to go
The Commission has paid a €40 million loan in financial support to the Republic of Moldova, as part of the ongoing Macro-Financial Assistance operation to the country worth €150 million in total. This constitutes important support from the EU to one of the countries most directly and heavily impacted by Russia's war of aggression against Ukraine.
"Today's second payment to Ukraine of €1.5 billion shows the EU‘s steadfast support for Ukraine. The country achieved important progress on transformative reforms, like on the rule of law. This will also facilitate the international reconstruction effort and support Ukraine on its European path."
The Commission has paid a second instalment of €1.5 billion under the up to €18 billion Macro-financial Assistance (MFA) ‘Plus' package for Ukraine. With this instrument, the EU seeks to help Ukraine cover its immediate funding needs, with stable, predictable and sizeable financial support in 2023.
The European Investment Bank (EIB) has approved a €2.1 billion operation to modernise 178 km of the Palermo-Catania railway line in Italy, reducing travel times by a third. The project is backed by the InvestEU programme.
The most recent episode of Real Economy examines the impact of the financial support provided to Ukraine by the EU, European financial institutions and Member States. On top of aid, the European Union has committed to lend €18 billion in 2023 alone, with favourable loan terms. The episode features an interview with Executive Vice-President Valdis Dombrovskis.
The payment of €52.3 million in grants was made possible by Malta's fulfilment of the 16 milestones and 3 targets in the first instalment. The payment request covers important measures such as the adoption of a strategy to reduce waste through recycling in the construction sector, a national anti-fraud and corruption strategy and reforms to digitalise the justice system.
The Commission has endorsed a positive preliminary assessment of Austria's first payment request for €700 million of grants (net of pre-financing). Austria submitted a payment request in December 2022 based on the achievement of the 44 milestones and targets, including reforms to accelerate the roll-out of renewable energy production and make public transport more attractive.
The Economic and Financial Affairs Council agreed conclusions on orientations for a reform of the EU economic governance framework containing areas of convergence of views among Member States and areas for further work on a reformed framework. They constitute political guidance for the Commission for the preparation of relevant legislative proposals.
The Commission provided guidance to Member States on the conduct and coordination of fiscal policy for next year. This guidance comes as discussions on the future economic governance framework are ongoing.
Backed by the InvestEU programme, the European Investment Fund (EIF), CaixaBank and MicroBank are stepping up their support for Spanish small and medium enterprises (SMEs) and mid-caps by providing them with guarantees worth €637 million. CaixaBank and MicroBank will use these guarantees to mobilise more than €1 billion in financing to help businesses reach their full potential.
This paper investigates how national fiscal rules have supported numerical compliance with EU fiscal rules.
