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  18 January 2024  
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Economic and Financial Affairs

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In this issue

Top story

InvestEU programme supports €392 million investment in Europe's first circular battery production gigafactory in Sweden

The InvestEU programme has provided support to two investments worth around €392 million for the expansion of Europe's first circular battery production gigafactory in Skellefteå, Sweden. The expansion is expected to increase the output capacity for battery production to up to 60 gigawatt hours per year.

 
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Viewpoint

Maroš Šefčovič, Executive Vice-President for European Green Deal, Interinstitutional Relations and Foresight

“We mean business when it comes to Europe’s battery industry. It is of strategic importance and a key battleground for global competitiveness. Northvolt, our battery pioneer, showcases that the EU has what it takes to build an innovative, sustainable and globally competitive battery ecosystem.”

News

Commission disburses REPowerEU pre-financing payments to Hungary, Lithuania and Poland under the Recovery and Resilience Facility

In December 2023, the Commission disbursed €779.5 million to Hungary in loans, €109.8 million to Lithuania in loans, as well as €5 billion to Poland in loans and grants, as part of pre-financing relating to the REPowerEU funds under the Recovery and Resilience Facility (RRF). This will accelerate the delivery on the REPowerEU Plan's objectives to save energy, produce clean energy and diversify energy supplies.

 
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Commission receives Italy's fifth payment request under the Recovery and Resilience Facility

The Commission has received Italy's fifth payment request for €10.6 billion in grants and loans (net of pre-financing). The payment request concerns a total of 22 milestones and 30 targets covering investments and reforms. The Commission will now assess the request.

 
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Commission receives France’s third payment request under the Recovery and Resilience Facility

The Commission has received France’s third payment request for €7.5 billion in grants and loans (net of pre-financing). The payment request concerns a total of 15 milestones and 24 targets covering investments and reforms. The Commission will now assess the request.

 
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Commission presents Opinion on Slovakia's updated Draft Budgetary Plan for 2024

The Commission adopted its Opinion on Slovakia's updated Draft Budgetary Plan (DBP) for 2024, finding that it risks not being in line with the fiscal guidance contained in the Council recommendation of July 2023.

 
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Speeches

Commissioner Gentiloni's statement in the European Parliament on the Economic Governance Review

Quote In the current uncertain economic and geopolitical environment, let us not lose sight of the ultimate goal: a reformed framework, that allows for gradual debt reduction while making space for the massive public investments that Europe needs to successfully address the challenges before us.
 
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Remarks by Commissioner Gentiloni at the Eurogroup press conference

Quote It is clear is that energy policy must be an integral part of a common European industrial strategy, one that safeguards the single market, enhances our strategic autonomy and supports the climate transition.
 
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Real Economy by Euronews

Celebrating 25 years of the euro: a retrospective and future outlook

Real Economy commemorates 25 years of the single currency in Europe by asking students, workers and a former president of the European Central Bank for their perspectives on the past, present and future of the euro and the eurozone.

 
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Events and notices

InvestEU: Financing Europe’s Future, 23 January 2024

Registration for the InvestEU: Financing Europe’s Future event is now open. The event will highlight the opportunities offered by InvestEU, showcase InvestEU beneficiaries, and provide an opportunity for engagement with InvestEU partners and stakeholders. Click on the link below to keep up to date on the programme and speakers.
 
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EU Sustainable Investment Summit, 24 January 2024

Registration for the EU Sustainable Investment Summit, the European Commission’s flagship annual event on sustainable investment, is now open. The third edition will take place on 24 January 2024 in Brussels. Click on the link below to keep up to date on the programme and speakers.
 
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Recovery and Resilience Facility: a lot done, more to come, 9 April 2024

Save the date for the Recovery and Resilience Facility: a lot done, more to come event, co-organised by the European Commission and the Belgian Presidency of the Council of the European Union on 9 April 2024. More information on the programme and the speakers will be available soon.
 
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Save the date: Brussels Economic Forum, 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. Click on the link below to keep up to date on programme.
 
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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.
 
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Publications

Robustness of the Trend-Cycle Decomposition of Total Factor Productivity in EUCAM

This paper analyses the robustness of the trend-cycle decomposition of total factor productivity which is involved in the estimation of potential growth and output gap in the EU Member States in application of the EU’s Commonly Agreed Methodology.

 
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European Business Cycle Indicators – Results of the October/November 2023 survey on investment in the manufacturing and services sectors. 4th Quarter 2023

This special topic analyses the results of the specific questions on investment included in the October-November surveys for the manufacturing and services sectors.

 
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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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