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  22 June 2023  
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Economic and Financial Affairs

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In this issue
Top story
Ukraine: Commission proposes to set up a dedicated Facility to support Ukraine's recovery, reconstruction and modernisation

The Commission has proposed to establish a dedicated financing instrument that will provide coherent, predictable as well as flexible support for the period 2024-2027 to Ukraine, adapted to the unprecedented challenges of supporting a country at war.

 
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Viewpoint
Paolo Gentiloni, Commissioner for Economy

“We want to offer steady and predictable financing to Ukraine for the next four years, to support its economic stability, its recovery and reconstruction, and to facilitate the investments and reforms that will smooth its path towards EU accession.”

News
Commission pays a further €1.5 billion in macro-financial assistance to Ukraine

The Commission has paid €1.5 billion under the Macro-financial Assistance (MFA)+ package for Ukraine to help the country cover its immediate funding needs, with stable, predictable and sizeable financial support in 2023.

 
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NextGenerationEU: Commission makes first disbursement of €20.2 million to Luxembourg under Recovery and Resilience Facility

The payment of €20.2 million in grants is made possible as Luxembourg meets the 26 milestones and targets related to the first tranche.

 
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InvestEU: Up to €280 million in new financing for Czech and Slovak SMEs to support the green and digital transition, skills, cultural sectors and the social economy

The European Investment Fund (EIF), backed by the InvestEU programme, has signed two guarantee with Komerční banka, which will enable the Czech lender to extend up to €280 million in fresh financing to micro, small and medium-sized companies.

 
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InvestEU: Three new agreements worth €88 million in total to support the green transition and SMEs in Italy

The European Investment Fund (EIF), backed by the InvestEU programme, has signed three new agreements worth a total of €88 million to support the green transition and small and medium-sized businesses (SMEs) in Italy.

 
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Speeches
Remarks by Executive Vice-President Dombrovskis at the ECOFIN Press Conference
Quote The EU is ready to provide Ukraine with sustainable and predictable financial support beyond 2023 to maintain its macro-financial stability and to support reconstruction.
 
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Remarks by Commissioner Gentiloni at the Eurogroup press conference
Quote In the first quarter of the year, employment grew by 0.6% in the euro area. If we put this in relation to the pandemic, we now have five million more people in work than in the fourth quarter of 2019.
 
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Events and notices
New EU recruitment competition for economists
The European Personnel Selection Office (EPSO) has opened a new specialist competition for economists. If you want to work in a multi-cultural and dynamic environment at the forefront of European economic analysis and economic policy-making, you can check out the website for further details. The deadline for applications is 25 July 2023.
 
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Call for papers: 12th Annual CompNet Conference
Researchers are invited to submit papers ahead of the 12th CompNet Annual Conference on the theme of "Firms’ performance in challenging times: Input costs, Technology, Productivity, and Market Power." The deadline for submissions is 7 July 2023. The conference will take place in Brussels on 19-20 October 2023.
 
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Publications
Macrofinancial Dynamics in a Monetary Union

This paper presents a new macrofinancial general equilibrium model of the euro area economy.

 
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The Development of Renewable Energy in the Electricity Market

This paper studies renewable electricity: its development in the past and in the future, public support schemes, alternative purchasing arrangements and its future competitiveness.

 
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European Semester country reports

The 2023 country reports, prepared in the context of the European Semester framework, provide an overview of the economic and employment outlook of the country, its key challenges, the main thrust of the policy response envisaged, as well as topical outstanding issues.

 
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This newsletter is published by the European Commission's Directorate General for Economic and Financial Affairs. The Directorate‑General for Economic and Financial Affairs is the Commission department responsible for EU policies promoting economic growth and recovery, higher employment, stable public finances and financial stability.

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