Economic and Financial Affairs Council, 14 March 2023

Summary:

A meeting of the Economic and Financial Affairs Council (ECOFIN) was held on 14 March 2023. The agenda includes the following items:

• Discussion on how the Recovery and Resilience Facility (RRF) and the REPowerEU chapters of the NRRPs can contribute to the green transition and energy independence;
• Adoption of Implementing Decision concerning the revising National Recovery and Resilience Plan (NRRP) of Finland;
• Adoption of conclusions on orientations for a reform of the European Union's (EU) economic governance framework;
• Presentation by the European Commission on its fiscal policy guidance for 2024;
• Exchange of views on the economic and financial impact of Russia's invasion of Ukraine, focusing on energy-related financial markets;
• Briefing on the outcome of the latest G20 meeting of finance ministers and central bank governors;
• Guidance for further work regarding preparations for upcoming G20 meeting of finance ministers and central bank governors, as well as IMF spring meetings;
• Adoption of guidelines as regards the EU annual budget for 2024;
• Adoption of Recommendation on the discharge to the Commission for the implementation of the EU annual budget for 2021;
• Presentation by the Commission on the state of play as regards status of transposition of legislation in the field of financial services;

In the margins of the ECOFIN, the Council Presidency held on 13 March the half-yearly macroeconomic dialogue meeting at political level with representatives of social partners.

Official

General Secretariat of the Council: Background Brief for Council meeting - Economic and Financial Affairs Council, 14 March 2023 https://www.consilium.europa.eu/media/62954/background-note-ecofin-230314-final_en.pdf

European Commission: Remarks by Executive Vice-President Dombrovskis at the ECOFIN press conference (14 March 2023) https://ec.europa.eu/commission/presscorner/detail/en/speech_23_1660

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