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VLADISLAV GORANOV: ALL EU MEMBER STATES WILL BENEFIT FROM A REFORMED AND MORE STABLE EURO AREA THAT CAN ENDURE CRISES AND THAT GENERATES HEALTHY ECONOMIC GROWTH

07.11.2017

“The European economy has continued its recovery which is expected to continue at a steady pace in the next year. However, political uncertainty remains high and some imbalances and vulnerabilities persist. Therefore, more ambitious implementation of structural reforms is needed to complement the impact of fiscal initiatives in order to ensure that growth strengthens in a sustainable and inclusive way.” Minister of Finance Vladislav Goranov said the above during the macroeconomic dialogue with the social partners, held today in Brussels, Belgium.

“The benign economic and political circumstances provide a favourable window of opportunity to take steps necessary for deepening and completing the Economic and Monetary Union”, Minister Goranov added. In his opinion, all EU Member States and beyond will benefit from a reformed and more stable Euro area that can endure crises and that generates healthy economic growth.

Minister of Finance of Estonia and rotational Chair of the Economic and Financial Affairs Council (ECOFIN) Toomas Tõniste, European Commission Vice-President for the Euro and Social Dialogue Valdis Dombrovskis and representatives of ECOFIN and the European Central Bank took part in the traditional meeting to discuss the macroeconomic perspective and the development of the Economic and Monetary Union. In addition to the current Presidency, the Council is also represented by the two future Presidencies – the Bulgarian and the Austrian ones. The dialogue is a permanent institutionalised form of cooperation for joint policies and decisions, held twice a year. Representatives of the European Trade Union Confederation, the Confederation of European Business BusinessEurope, the European Centre of Employers and Enterprises providing Public Services and the European Association of Craft, Small and Medium-Sized Enterprises took part in the discussion on behalf of the social partners.

After the macroeconomic dialogue Minister Goranov will take part in the regular meeting of the ECOFIN. The agenda includes discussions on the VAT e-commerce package, the European system of financial supervision, ECA's annual report on the implementation of the 2016 budget of the European Union, the progress of and the perspectives for European cooperation in the area of statistics.