Economic and Financial Affairs

ECFIN Newsletter

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Top story

Viewpoint

News

Speeches

Events and notices

Publications

Top story

Autumn 2023 Economic Forecast: A modest recovery ahead after a challenging year

While economic activity is expected to gradually recover going forward, the European Commission's Autumn Forecast revises EU GDP growth down compared to its summer projections.

Viewpoint

Paolo Gentiloni, Commissioner for Economy

“We are approaching the end of a challenging year for the EU economy. Strong price pressures and the monetary tightening needed to contain them, as well as weak global demand, have taken their toll on households and businesses.”

News

Commission disburses first payment of €238.5 million to Estonia under the Recovery and Resilience Facility

The payment of €238.5 million in grants (net of pre-financing) was made possible by Estonia's fulfilment of the 28 milestones and 1 target linked to the first and second instalments of its recovery and resilience plan.

Commission receives Finland's first payment request under the Recovery and Resilience Facility

Finland's first payment request relates to 20 milestones, for a total amount of €198 million in grants. The Commission will now assess the request and will then send its preliminary assessment of Finland's fulfilment of the milestones required for this payment to the Council's Economic and Financial Committee.

First InvestEU agreement in Romania provides €25 million in EIB financing to boost security of supply for medicines

The European Investment Bank (EIB) and Antibiotice, Romania's leading pharmaceutical manufacturer, have joined forces to boost the production of medicines in Romania. This agreement was made possible with the support of the InvestEU programme.

Speeches

Remarks by Commissioner Gentiloni at the press conference on the Autumn Forecast 2023

		Following a robust post-pandemic expansion in 2021 and 2022, the EU economy has lost momentum. Real GDP barely grew in the first three quarters of this year. Over the coming quarters though, growth is expected to rebound mildly as consumption recovers with rising real wages, and investment remains supportive.

Events and notices

EU Sustainable Investment Summit – 24 january 2024

The EU Sustainable Investment Summit is the European Commission’s flagship annual event on sustainable investment. The third edition will take place on 24 January 2024 in Brussels. More information on the programme and the speakers will be available soon.

Brussels Economic Forum: Save the date – 16 May 2024

Save the date for the European Commission’s Brussels Economic Forum on 16 May 2024. Join us in Brussels or online for a day of debates and networking with speakers and participants from across the world. Keep checking the website for updates

Open public consultation on SURE

SURE was established in May 2020 to help Member States fight the negative economic and social consequences of the COVID-19 pandemic. The European Commission has launched an open public consultation to evaluate how SURE has delivered on its main objectives to protect jobs and workers.

Publications

European Economic Forecast. Autumn 2023

The European economy has lost momentum this year against the background of a high cost of living, weak external demand and monetary tightening. While economic activity is expected to gradually recover going forward, the European Commission’s Autumn Forecast revises EU GDP growth down compared to its summer projections.

Patterns of Cross-Border Venture Capital Flows in Europe

This paper analyses the main characteristics of the European venture capital cross-border flows and their determinants.

2024 Ageing Report. Underlying Assumptions and Projection Methodologies

This report details the demographic and macroeconomic assumptions used for the update of the long-term budgetary projections in the 2024 Ageing Report, which will be published in spring 2024.

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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