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This briefing provides a summary of the recent economic developments in the EU Member States and gives an overview of relevant economic projections forecasted by major international and EU institutions

'This is Europe' – an initiative proposed by the President of the European Parliament, Roberta Metsola – consists of a series of debates with EU Heads of State or Government to discuss their visions for the future of the European Union. Following an earlier speech to the Parliament in this context by the Estonian Prime Minister, Kaja Kallas, on 3 May 2022, the Italian Prime Minister, Mario Draghi, was the first EU leader to address the Parliament after the latter's Conference of Presidents had endorsed ...

On 24 February 2022, Russia launched an invasion of Ukraine. The war itself, as well as related sanctions and countersanctions are expected to have a significant impact on the euro area economy. This paper summarises the recent monetary policy decisions of the European Central Bank (ECB)'s Governing Council and outlines some policy issues and challenges that might arise in the context of the war, related to price stability, financial stability, climate and energy policies, ECB/Eurosystem staff projections ...

This paper provides an overview of stakeholders’ activities at national, regional and local level, in relation to national Recovery and Resilience Plans (RRPs). The overview is based on two surveys, recently conducted. Furthermore, it presents the latest opinions and assessments by EU stakeholders and other relevant institutions and bodies on the implementation of these plans. This paper is a follow-up of previous EGOV publications on the involvement and views expressed by stakeholders in the context ...

Based on Commission’s assessments of national Recovery and Resilience Plans, this paper outlines how 2019 and 2020 Country Specific Recommendations covering public administration, judicial system and business environment related issues are being addressed in national plans. The paper will be updated once new relevant information is available.

Solidarity and wealth tax

Briefing 13-04-2022

In the wake of the COVID-19 pandemic, the economic costs of the lockdown became apparent. Most countries needed to step up health and social spending, while also introducing stimulus packages as their tax revenues fell. This has led to increased budget deficits and sovereign debt. Additional revenue streams need to be found in the near future in order to pay back this debt.

Before the pandemic, the Greek economy was just getting back onto a positive path, following reforms implemented under the macroeconomic adjustment programmes. Action to address the country's specific characteristics is now all the more important since the -8.2 % downturn of 2020. Greece was among the first four countries to submit its national recovery and resilience plan (NRRP) in April 2021. The plan envisages investments and reforms totalling €30.5 billion, to be implemented up to 2026, with ...

The negative impact of the Covid-19 crisis on women's social and economic situation triggered a debate on the urgent need for a gender-sensitive policy response to the pandemic. In this context, the establishment of the Recovery and Resilience Facility (RRF) – the EU's biggest financial instrument supporting recovery in the Member States – is an opportunity to channel extraordinary resources toward measures that take into account the principles of gender equality. It is also a chance to put into ...

The 2023 EU budget will be the third under the multiannual financial framework (MFF) for 2021 to 2027. It is also the last year of the EU recovery instrument (Next Generation EU), which is planned to run from 2021 to 2023. The European Parliament contributes to the preparation of proposals for the forthcoming year's budget for the European Union through the adoption of its 'guidelines'. The draft guidelines, as adopted by the Committee on Budgets on 16 March 2022, outline Parliament's goals for the ...

The economic performance of Belarus has been unimpressive ever since the fall of the Soviet Union, due mainly to the country’s lack of serious structural reforms. This study examines the consequences of this benign neglect should a democratic transition occur and attempts to understand the assistance that may be required to help Belarus successfully transform. Unlike the transformations which began in Central Europe during 1989, though, Belarus’ potential transition is complicated by immense Russian ...