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As expected, the European Commission proposed on Monday to extend by one year - until the end of 2023 - the suspension of the stability pact, which has been in place since the start of the pandemic in March 2020. pact should therefore be reactivated at the beginning of 2024.
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For Valdis Dombrovskis and Paolo Gentiloni, respectively Executive Vice-President and Commissioner for the Economy within the institution, there would be no point in reinstating the rules aimed at limiting public debt and deficits, because of the period of great economic uncertainty that the EU is going through as a result of the war in Ukraine.
Their suspension “
offers leeway for national budgetary policies to act quickly if necessary
,” said Dombrovskis.
“
It is obvious that the Union has not yet emerged from a period of severe economic recession,
” Gentiloni warned.
In fact, the Commission last week carried out a major revision of the forecasts…
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