Finance Minister taking part in Eurogroup and Ecofin meetings in Brussels

Minister of Finance Makis Keravnos is in Brussels to participate in the Eurogroup and Ecofin Council meetings that will take place on 17 and 18 February.

According to a press release by the Ministry, on Monday, 17 February, the Minister will participate in the Eurogroup, where views will be exchanged regarding the macroeconomic prospects and challenges of the Eurozone in connection with global geopolitical developments.

The Ministers are expected to exchange views on the economic policy recommendations for the Eurozone issued by the European Commission in December, within the framework of the coordination of economic policies, and which are expected to be approved by the Ecofin Council. 

Finally, the Eurogroup is expected to be informed about the progress of Bulgaria's fulfillment of the criteria for adopting the euro and to approve its work program for the first half of 2025.

Ecofin will take place on 18 February, during which Ministers will exchange views on simplifying and improving the business environment in Europe, based on the recent European Commission Communication on boosting European competitiveness (Competitiveness Compass). 

It is said that this is the first major initiative of the new European Commission that is expected to guide its work over the next five years.

The Finance Ministers will then exchange views on the economic consequences of the Russian invasion of Ukraine, with an emphasis on the effective implementation of sanctions.

Furthermore, the Ecofin Council will adopt conclusions on macroeconomic imbalances, in the context of the 2025 European Semester, which concerns the coordination of the economic policies of the Member States, as well as the guidelines for the preparation of the European Budget for 2026.

The Ecofin Council members will also be informed about the progress of the implementation of the Recovery and Resilience Facility and will approve the amended Recovery and Resilience Plans of Latvia and Belgium. 

Finally, the Ministers will approve Recommendations in relation to the Medium-Term Fiscal-Structural Plan of Hungary, as well as the terms of reference for the EU's participation in the G20 Finance Ministers and Central Bank Governors Meeting on 26-27 February. 

On the sidelines of the Ecofin Council, Keravnos will hold a formal meeting with the Commissioner for Fisheries and Oceans, Costas Kadis, on the occasion of assuming his portfolio, the press release ends. 

(Source: CNA)