News

This Brief focuses on macro-economic benefits of gender equality.

A New Era for Europe - How the European Union Can Make the Most of its Pandemic Recovery, Pursue Sustainable Growth, and Promote Global Stability

The European Commission has endorsed a positive preliminary assessment of Italy's payment request for €21 billion, of which €10 billion of grants and €11 billion of loans under the Recovery and Resilience Facility (RRF), the key instrument at the heart of NextGenerationEU.

The Commission has endorsed a positive preliminary assessment of Greece's payment request for €3.6 billion, of which €1.7 billion in grants and nearly €1.9 billion in loans, under the Recovery and Resilience Facility (RRF), the key instrument at the heart of NextGenerationEU.

The Commission has adopted a Communication providing Member States with guidance on the conduct of fiscal policy in 2023. It sets out the key principles that will guide the Commission's assessment of Member States' stability and convergence programmes. It also provides an overview of the state of play on the economic governance review.

Remarks by Executive-Vice President Dombrovskis at the press conference on the fiscal policy guidance for 2023

Press remarks by Executive-Vice President Dombrovskis at the informal video conference of economy and finance ministers

“The first year of the Recovery and Resilience Facility can be summarised as ‘so far, so good.' In the twelve months since the establishment of the RRF, 22 national plans have been agreed and begun to be implemented on the ground. The RRF's ambitious funding targets for climate and digital objectives have been amply exceeded, and the plans contain more than a thousand measures contributing to smart, sustainable and inclusive growth. The coming year will be a crucial test of our collective ability to implement the unprecedented investments and reforms that have been agreed. I am confident that we will all rise to the challenge and seize this unique opportunity.”

The Commission has adopted its first annual report on the implementation of the Recovery and Resilience Facility (RRF), the centrepiece of NextGenerationEU. The RRF is providing up to €723.8 billion (in current prices) of grants and loans to Member States to support transformative investments and reforms that will enable the EU to emerge stronger from the COVID-19 pandemic.

Making Sense of Consumer Inflation Expectations: The Role of Uncertainty

In the fourth quarter of 2021, seasonally adjusted GDP increased by 0.3% in the euro area and by 0.4% in the EU, compared with the previous quarter, according to a flash estimate published on 15 February by Eurostat, the EU statistical office.

On 23 February, the Commission published the thirteenth enhanced surveillance report for Greece.

The latest episode of Real Economy on Euronews examines how funds from the EU’s pandemic recovery fund are set to transform Spain’s economy.

The European Commission’s Winter 2022 Economic Forecast, published on 10 February, projects that, following a notable expansion by 5.3% in 2021, the EU economy will grow by 4.0% in 2022 and 2.8% in 2023.

Euro area annual inflation is expected to be 5.1% in January 2022, up from 5.0% in December according to a flash estimate from Eurostat, the EU statistical office.

On 2 February, the Commission presented a Taxonomy Complementary Climate Delegated Act on climate change mitigation and adaptation covering certain gas and nuclear activities.

In its first bond syndication of 2022, on 8 February, in yet another successful deal, the European Commission raised a further €5 billion in NextGenerationEU funds on behalf of the EU.

The European Commission tabled a proposal on 1 February for a new emergency macro-financial assistance (MFA) programme for Ukraine of up to €1.2 billion.

“Multiple headwinds have chilled Europe's economy this winter: the swift spread of Omicron, a further rise in inflation driven by soaring energy prices and persistent supply-chain disruptions. With these headwinds expected to fade progressively, we project growth to pick up speed again already this spring. Price pressures are likely to remain strong until the summer, after which inflation is projected to decline as growth in energy prices moderates and supply bottlenecks ease. However, uncertainty and risks remain high.”

In the third quarter of 2021, the seasonally adjusted general government deficit to GDP ratio stood at 4.0% in the euro area and 3.7% in the EU.