Dombrovskis: 'High deficits and rising debts, prudence is needed'

It is "a crucial time for fiscal policy. Member state deficits remain high and debt levels continue to rise in some high-debt countries. At the same time, interest rate spreads have widened, signaling concerns about the fiscal positions of these member states." This was stated by the EU Commissioner for Economy, Valdis Dombrovskis after the Eurogroup. "Very prudent fiscal policies are needed. Compliance with fiscal rules is imperative to confirm the credibility of our fiscal framework and the budgets for 2027 should live up to this responsibility."

“Although growth data has been more positive than expected this year, the overall outlook remains clouded by uncertainty,” Dombrovskis warned, pointing in particular to energy prices, which “remain very high and volatile.” The commissioner recalled that the Commission's autumn economic forecasts will be presented on 17 November, while the autumn package of the European Semester will be published on 24 November, which will include "an assessment of compliance with EU fiscal rules by member states".