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Vice President of the European Commission, Valdis Dombrovskis, said at a press conference that the European Commission recommended that France reject the procedure of compulsory reduction of the budget deficit. He noted that under this procedure, there is now one country - Spain. According to the Stability and Growth Pact, the EU countries are obliged to have a budget deficit of not more than 3% of GDP. If the country violates this requirement, a procedure for compulsory reduction of the deficit may begin in relation to it in the European Union. The action plan developed for this purpose can be designed for several years and include reforms and budgetary savings.
Germany’s contribution to the European Union’s budget would rise by 42% or 13 billion Euros ($14.63 billion) annually in the coming years, the German national daily newspaper Die Welt reported on Monday. Government calculations ...
France is expected to recover in 2022, forecasting that the country’s economy will recuperate from its sharpest post-war recession brought by the novel coronavirus crisis, the central bank said on Tuesday. Europe’s second-largest ...
The Finance Ministry of the United Kingdom worries that the government’s budget deficit this year could reach a record 337 billion pounds as the coronavirus pandemic continues to wreak havoc to the British economy. This development is ...
Finance Minister Bruno Le Maire stated on Wednesday that the France administration will tighten controls on foreign direct investments to protect French companies over strategic industries and bio-tech groups. At present, non-European purchases ...
South Korea President Moon Jae-in said on Wednesday said that the government has pledged to roll out a new supplementary budget as well as increase subsidies in a bid to save businesses in Korea. The fourth-largest economy in Asia had released ...
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