Brussels, 9 Nov. (LaPresse) – “We are at a crucial juncture for fiscal policy: Member States’ deficits remain high and, in some countries that are already heavily indebted, debt continues to rise. At the same time, the widening of interest rate spreads reflects concerns about the fiscal situation in those Member States. An extremely prudent fiscal policy is therefore necessary. Compliance with fiscal rules is imperative to uphold the credibility of our fiscal framework; the 2027 budgets must reflect this commitment to collective responsibility.” This was stated by the European Commissioner for the Economy, Valdis Dombrovskis, at a press conference following the Eurogroup meeting. “Although this year’s growth figures have been more positive than expected,” he emphasised, “the overall picture remains shrouded in uncertainty. This applies in particular to energy prices, which remain at very high levels and are characterised by high volatility. Next week, on 17 November, I will present the European Commission’s autumn economic forecast. Shortly afterwards, on 24 November, the Commission will publish the autumn European Semester package, which will include an assessment of Member States’ compliance with the EU’s budgetary rules.” Dombrovskis then noted that “we welcomed NATO Secretary-General Mark Rutte for an important discussion on defence and defence spending. As regards investment in our defence capabilities, three points are clear: we must spend more, we must spend better and we must spend together.”
EU, Dombrovskis: ‘High deficits and rising debt call for caution’
Brussels, 9 Nov. (LaPresse) – “We are at a crucial juncture for fiscal policy: Member States’ deficits remain high and, in some countries that are already heavily indebted, debt continues to rise. At the same time, the widening of interest rate spreads reflects concerns about the fiscal situation in those Member States. An extremely prudent fiscal policy is therefore necessary. Compliance with fiscal rules is imperative to uphold the credibility of our fiscal framework; the 2027 budgets must reflect this commitment to collective responsibility.” This was stated by the European Commissioner for the Economy, Valdis Dombrovskis, at a press conference following the Eurogroup meeting. “Although this year’s growth figures have been more positive than expected,” he emphasised, “the overall picture remains shrouded in uncertainty. This applies in particular to energy prices, which remain at very high levels and are characterised by high volatility. Next week, on 17 November, I will present the European Commission’s autumn economic forecast. Shortly afterwards, on 24 November, the Commission will publish the autumn European Semester package, which will include an assessment of Member States’ compliance with the EU’s budgetary rules.” Dombrovskis then noted that “we welcomed NATO Secretary-General Mark Rutte for an important discussion on defence and defence spending. As regards investment in our defence capabilities, three points are clear: we must spend more, we must spend better and we must spend together.”