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30 November 2023

Economic and Financial Affairs

ECFIN Newsletter

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In this issue

Top story

Viewpoint

News

Speeches

Real Economy by Euronews

Events and notices

Publications

Top story

Commission sets out key priorities in the European Semester for the year ahead to strengthen EU competitiveness

The European Semester Autumn Package launches the 2024 European Semester cycle of economic policy coordination which sets out priorities and provides clear and well-coordinated policy guidance for the coming year.

Viewpoint

Paolo Gentiloni, Commissioner for Economy

“This is a time for prudent fiscal policies that complement the ECB’s efforts to fight inflation and thus support purchasing power. Yet it is also essential that governments pursue the reforms and investments needed to enhance our competitiveness and deliver sustained and sustainable growth.”

News

Commission pays a further €1.5 billion in assistance to Ukraine

The Commission has paid €1.5 billion under the Macro-financial Assistance + package for Ukraine worth up to €18 billion. With this instrument, the EU seeks to help Ukraine cover its immediate funding needs, with stable, predictable and sizeable financial support in 2023.

Positive preliminary assessment of Slovenia's request for €541 million disbursement under the Recovery and Resilience Facility

The Commission has endorsed a positive preliminary assessment of Slovenia's payment request for €231 million in grants and €310 million in loans under the Recovery and Resilience Facility (RRF).

Commission endorses positive preliminary assessment of Slovakia's request for a €662 million disbursement under the Recovery and Resilience Facility

The Commission has endorsed a positive preliminary assessment of Slovakia's payment request for €662 million in grants under the Recovery and Resilience Facility (RRF).

European Investment Bank lends €250 million to Sorégies Group under InvestEU to speed up its energy transition

The financing will contribute to the European Union's commitments under the 2030 Agenda for Sustainable Development as part of the implementation of the Paris Climate Agreement.

Commission disburses the third payment of €700 million to Croatia under the Recovery and Resilience Facility

The Commission has made a third payment of €700 million of non-repayable financial support (excluding pre-financing) to Croatia under the Recovery and Resilience Facility (RRF).

Speeches

Speech by Commissioner Gentiloni at InvestEU Norway launch

		I am very happy that Norway has decided to take part in InvestEU. I believe it shows that this programme brings real added value. And it confirms there is a strong appetite for financing these types of projects.

		Norway is one of the EU's closest and most valued partners. We have strong trade links, of course, with the EEA agreement as the basis for our excellent cooperation for almost thirty years now. But our relationship goes deeper. It is based on a common heritage and history.

		We need both stability and growth. And we should not be resigned to a new period of ‘low for long' when it comes to the growth of the European economy.

Eurozone inflation drops to two-year low, but Europeans are still feeling the pinch

The latest episode of Real Economy asks if businesses and consumers are really seeing a drop in prices, and look ahead to how Europe's economic growth will evolve in the coming months. The episode features an interview with Commissioner Paolo Gentiloni.

InvestEU: Financing Europe’s Future – 23 January 2024

The InvestEU: Financing Europe’s Future event will highlight the opportunities offered by InvestEU, showcase InvestEU beneficiaries, and provide an opportunity for engagement with InvestEU partners and stakeholders.

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.

2024 Euro Area Report

The report offers a comprehensive analysis of economic developments and policy challenges within the euro area, focusing on challenges related to the high inflation and competitiveness. It provides the analytical underpinning for the 2024 euro area recommendation.

How Green Budgeting is Embedded in National Budget Processes

This paper presents how green budgeting is integrated into the regular budget process and influences decision making and budget allocation.

Inflation Differentials in the Euro Area at the Time of High Energy Prices

This paper investigates the drivers of inflation differentials in the euro area.

The G20@15: Can It Still Deliver?

The paper revisits G20 developments in the last ten years with a particular focus on the G20 response to the pandemic; the consequences of growing geopolitical tensions and the Russian war of aggression against Ukraine on the effectiveness of the G20, and discusses possible ways forward that would allow the forum to still play an important role at global level and continue to deliver much needed global public goods.

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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