| Author (Corporate) | European Commission: DG Economic and Financial Affairs |
|---|---|
| Series Details | COM (2022) 85 |
| Publication Date | 02/03/2022 |
| Content Type | News, Policy-making |
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Summary: Communication published by the European Commission on 2 March 2022, providing Member States with guidance on the conduct of fiscal policy in 2023. Further information: The Communication sets out the key principles that will guide the Commission’s assessment of Member States’ stability and convergence programmes. It also provides an overview of the state of play on the economic governance review. This was presented in the context of Russia’s invasion of Ukraine. In solidarity with Ukraine, the European Union (EU) approved an unprecedented package of economic sanctions aimed at causing severe impact on the Russian economy and political elite. The 2022 Winter Economic Forecast was published on 10 February, two weeks before the invasion. This development negatively impacts the growth outlook and tilts the risks further to the downside. It also further underscores the need for strong coordination of economic and fiscal policies, and for fiscal policies to be adapted in reaction to rapidly changing circumstances. The guidance will be adjusted to economic developments as needed. |
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| Source Link |
https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=COM:2022:85:FIN
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| Subject Categories | Economic and Financial Affairs |
| Subject Tags | Economic Governance | Situation, National Budgets |
| International Organisations | European Union [EU] |
