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Paolo Gentiloni, member of the European Union (EU) Commission responsible for the economy, made a statement at the end of the meeting held by the finance ministers of the EU member states using the euro currency.

Stating that Kovid-19 is an extraordinary situation, Gentiloni said, “While the light was seen at the end of the tunnel with the vaccination process against the epidemic, we also implement much stricter measures in Europe than a few months ago.” used the expression.

Gentiloni said, “Before Kovid-19, the economic imbalances between the members of the Eurozone were gradually decreasing. Now, public debt is increasing again, especially in the Eurozone countries that have been economically the most severely affected by the epidemic. Unfortunately, these imbalances are at risk of deepening.” found the evaluation.

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Stating that the process of the implementation of the 750 billion euro recovery program prepared to combat the economic effects of the epidemic was also discussed at the meeting, Gentiloni stated that the member countries sent their draft spending plans to the EU Commission, and that the plans would be approved and put into effect within a few months.

According to EU reports, the public deficit reaching 12.2 percent in Spain, 11.2 percent in Belgium, 10.8 percent in Italy, 10.5 percent in France in 2020. The rate of income is expected to rise to 115.9 percent in France, 117.7 percent in Belgium, 120.3 percent in Spain, 159.6 percent in Italy and 207.1 percent in Greece.

Source: AA

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