EU to offer debt reduction paths

Changes to EU fiscal rules to be proposed in October


REUTERS September 11, 2022
European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium May 5, 2021. PHOTO: REUTERS

PRAGUE:

The European Commission will present in the second half of October proposed changes to European Union fiscal rules that are likely to offer countries individual debt reduction paths, Commission Vice President Valdis Dombrovskis said on Saturday.

At a news conference after EU finance ministers held talks in Prague, Dombrovskis said the main goal of the rules, designed to safeguard the value of the euro, would remain making sure public debt was sustainable.

“This will require fiscal adjustment, reforms as well as investments,” Dombrovskis said, signalling government investment was likely to get some more attention in the course of the reform.

“Those three elements should all be combined so as to achieve a realistic, gradual and sustained reduction in public debt ratios,” he said.

Published in The Express Tribune, September 11th, 2022.

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