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MNI BRIEF: Fiscal Support For Demand Unwarranted - Eurogroup

(MNI) London
(MNI) Brussels

Fiscal policies to boosted demand in 2023 will be unwarranted across the EZ, the Eurogroup says, pointing instead to measures to help the ECB in its fight against inflation.

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Supporting overall demand by fiscal policy in the eurozone would not be warranted next year, the Eurogroup of finance minister said in a statement Monday. Instead, fiscal policy should support the ECB’s fight to control inflation, the statement says.

“Fiscal policies in all countries should aim at preserving debt sustainability, as well as raising the growth potential in a sustainable manner to enhance the recovery, thus also facilitating the task of monetary policy to ensure price stability by not adding inflationary pressures.” the statement says.

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Supporting overall demand by fiscal policy in the eurozone would not be warranted next year, the Eurogroup of finance minister said in a statement Monday. Instead, fiscal policy should support the ECB’s fight to control inflation, the statement says.

“Fiscal policies in all countries should aim at preserving debt sustainability, as well as raising the growth potential in a sustainable manner to enhance the recovery, thus also facilitating the task of monetary policy to ensure price stability by not adding inflationary pressures.” the statement says.

Keep reading...Show less