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  15 February 2024  
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Economic and Financial Affairs

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In this issue

Top story

Commission welcomes political agreement on a new economic governance framework fit for the future

The European Parliament and the Council have reached an agreement on the most ambitious and comprehensive reform of the EU's economic governance framework since the aftermath of the economic and financial crisis. The Commission presented its reform proposals in April 2023.

 
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Viewpoint

European Commissioner for Economy Paolo Gentiloni

“Today’s agreement to reform our economic governance is good news for the European economy. It concludes a long journey for the redesign of the EU’s fiscal rules. While the agreed texts are different and more complex with respect to our initial proposal, they preserve its core elements: more medium-term planning; greater ownership by Member States within a common framework; a more gradual fiscal adjustment to reflect commitments to investments and reforms.”

News

Winter 2024 Economic Forecast: A delayed rebound in growth amid faster easing of inflation

The European Commission's Winter Interim Forecast revises growth in both the EU and the euro area down to 0.5% in 2023, from 0.6% projected in the Autumn Forecast, and to 0.9% (from 1.3%) in the EU and 0.8% (from 1.2%) in the euro area in 2024. In 2025, economic activity is still expected to expand by 1.7% in the EU and 1.5% in the euro area.

 
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EU and International Finance Corporation to unlock over €500 million in private sector investments for reconstruction in Ukraine

The European Commission and the International Finance Corporation (IFC) have signed a guarantee agreement to support investments that will help drive an inclusive and sustainable reconstruction in Ukraine. The EU will provide up to €90 million in financial guarantees to support investments in Ukraine to the IFC as part of its Better Futures Program (BFP).

 
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Speeches

Speech by Commissioner Gentiloni at the Harvard European Conference: A pivotal year - what's at stake in 2024 for Europe, America and the world

Quote In the next decade the EU will have well beyond half a billion citizens, living in peace, freedom and increasing prosperity. Today, the basic "raison d'être" of European integration – peace, prosperity and security – is more relevant than ever. The pandemic and Russia's invasion of Ukraine have been huge wake-up calls. Now indeed we stand at a crossroads. And the choices we will make in the coming months will be decisive.
 
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Real Economy by Euronews

A task force for the future: Europe's plan to upskill workers to reverse labour shortages

This episode of Real Economy explores the challenges businesses are facing and how they are upskilling workers amid the digital and green transitions. Thanks to the European Skills Agenda and the Pact for Skills, some two million workers across Europe have already received advanced training.

 
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Events and notices

Recovery and Resilience Facility (RRF) and European Strategic Investments and Reforms: state of play and way forward

Save the date for the Recovery and Resilience Facility: state of play and way forward 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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Replay the EU Sustainable Investment Summit and InvestEU event

The aftermovie of the EU Sustainable Investment Summit 2024 is out. Watch now the highlights of the event or catch up with the replays. You can also rewatch the InvestEU: Financing Europe’s Future event which took place the day before the Summit.
 
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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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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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