BUSINESS

General escape clause to apply next year too

TAGS: Finance

European Commission Vice President Valdis Dombrovskis and Economy Commissioner Paolo Gentiloni confirmed in a letter to Finance Minister Christos Staikouras and his 26 European Union peers that member-states’ fiscal policies ought to continue to support growth in 2021 too, which means relaxed fiscal rules for tackling the impact of the pandemic on the economy.

The so-called "general escape clause" will continue to apply next year.

They also called on Staikouras to supply specific information about the forecast revenues and expenditure associated with the application of the national Recovery and Resilience Facility.

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