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MNI BRIEF: European Fiscal Board Calls For Fiscal Tightening

(MNI) Brussels
Central Bank NewsPolicy NewsFiscalCEEMEAEurozoneBriefStoryRegion

Eurozone states need to implement additional fiscal tightening measures in their draft budget plans for next year, the European Fiscal Board warned in a report on Wednesday.
“The difference between total government expenditure and revenues is expected at 2.8 %of GDP, broadly unchanged from the previous year. The debt-to-GDP ratio is expected to increase slightly to above 90% of GDP,” the EFB said, noting that this came despite an acceleration in growth and the phasing out of temporary energy support measures. (See MNI POLICY: European Fiscal Board To Call For Spending Restraint In Report)

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Eurozone states need to implement additional fiscal tightening measures in their draft budget plans for next year, the European Fiscal Board warned in a report on Wednesday.
“The difference between total government expenditure and revenues is expected at 2.8 %of GDP, broadly unchanged from the previous year. The debt-to-GDP ratio is expected to increase slightly to above 90% of GDP,” the EFB said, noting that this came despite an acceleration in growth and the phasing out of temporary energy support measures. (See MNI POLICY: European Fiscal Board To Call For Spending Restraint In Report)