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MNI BRIEF: EU Fiscal Policy Supportive In '22; Normalise '23

(MNI) London
(MNI) Brussels

EU fiscal policy will normailse in 2023 following further supporting measures this year, Commissioner Gentiloni says.

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EU fiscal policy is set to normalise next year after a another year of support for the economy, Economy Commissioner Paolo Gentiloni said Monday The block's average government deficit is forecast to fall from 4.7% of GDP in 2021 to 3.6% in 2022 and further down to 2.5% in 2023.

Gentiloni, speaking as the latest economic forecasts, said that this trend reflected the unwinding of COVID measures and the improved economic conjuncture. He also noted that the number of countries with a deficit exceeding 3% of GDP fell to 15 in 2021 and is forecast to rise to 17 in 2022, before falling back to 11 in 2023 (MNI: EU To Postpone Decision On Debt Rule Freeze - Officials).

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EU fiscal policy is set to normalise next year after a another year of support for the economy, Economy Commissioner Paolo Gentiloni said Monday The block's average government deficit is forecast to fall from 4.7% of GDP in 2021 to 3.6% in 2022 and further down to 2.5% in 2023.

Gentiloni, speaking as the latest economic forecasts, said that this trend reflected the unwinding of COVID measures and the improved economic conjuncture. He also noted that the number of countries with a deficit exceeding 3% of GDP fell to 15 in 2021 and is forecast to rise to 17 in 2022, before falling back to 11 in 2023 (MNI: EU To Postpone Decision On Debt Rule Freeze - Officials).

Keep reading...Show less