EU governments must maintain their fiscal stance “active” in the face of the current crisis in Ukraine, with targeted measures for households and businesses, stressed the French Minister of Foreign Affairs, Bruno Le Mer.
Le Mer, who will chair a meeting with other EU finance ministers in Brussels tomorrow, said it was time for a joint targeted, swift and temporary economic response to the effects of the Ukraine crisis.
The suspension of EU fiscal rules until the end of the year imposed by the coronavirus crisis has provided all the flexibility needed to finance emergency support measures for gas-dependent households and businesses exposed to the Russian market. stressed.
“We have to keep fiscal policy ready,” he told reporters.
He added that the sanctions imposed on Russia for its invasion of Ukraine were effective and would cause an 8% recession in the Russian economy.
Source: Capital
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