EU to rule on SGP freeze extension in coming weeks – Gentiloni
The European Union will decide whether it will extend the suspension of its Stability and Growth Pact (SGP), a set of fiscal rules designed to prevent countries in the bloc from spending beyond their means, Commissioner for Economy Paolo Gentiloni (pictured) told La Stampa.
“In coming weeks we will decide if and how to extend the freezing of the Pact, and in coming months we will start thinking about how to re-calibrate it according to Europe’s new strategic objectives,” the official stated.
The SGP was frozen in March last year amid an economic downturn caused by the coronavirus pandemic.
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