Tax & Spend
EU Deficits Must Come Down as Economy Improves, Dombrovskis Says
- EU economy is proving resilient in face of current challenges
- It’s time for prudent fiscal positions, commissioner says
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European countries need to shift away from massive spending to help households and businesses through the energy crisis and refocus on fiscal discipline now that the economic outlook is improving, according to EU Commission Vice President Valdis Dombrovskis.
The EU’s executive arm on Monday raised its forecasts for growth in gross domestic product in the bloc this year, citing a mild winter, high levels of gas storage, and a strong labor market, and lowered its prediction for the rate of inflation.