Meeting Of EU Ministers Of Economy And Finance Focuses On Economic Recovery

Meeting of EU Ministers of Economy and Finance Focuses on Economic Recovery

The ministers of economy and finance of EU member states held a meeting on the 9th to exchange views on the economic conditions and economic governance of EU countries after the new crown epidemic.

The Minister of Finance of Slovenia, the rotating EU presidency, said that the EU’s efforts to promote economic recovery are playing a role and have achieved positive results in response to the epidemic. Now it is time to consider economic governance issues.

The meeting discussed the financing of the EU's economic recovery plan. At present, the economic recovery plans of a number of EU member states have been approved to help member states respond to the epidemic and develop a green and digital economy through loans and grants.

The meeting also discussed the recent rise in energy prices and inflation, and exchanged views on the "toolbox" measures formulated by the European Commission last month. This "toolbox" aims to take measures to offset the direct impact of rising energy prices and enhance the ability to withstand future shocks.

The European Commission’s Executive Vice President Donbrowskis said at a press conference that day that due to rising energy prices, the Eurozone inflation rate will continue to rise in the next few months and is expected to gradually ease in 2022.

The latest preliminary statistics released by Eurostat show that due to factors such as rising energy prices and supply chain bottlenecks, the Eurozone inflation rate in October reached 4.1% year-on-year, a 13-year high.