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EU Commission advises euro zone to boost growth, improve finances

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EU Commission advises euro zone to boost growth, improve finances
FILE PHOTO: Euro banknotes and coins are displayed in a shop in Brussels, Belgium November 14, 2017. REUTERS/Eric Vidal/File Photo   -   Copyright  ERIC VIDAL(Reuters)
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BRUSSELS (Reuters) – The European Commission said on Wednesday it had adjusted its recommendation for the euro zone as a whole to have a stronger focus on what it said were the key challenges of boosting growth and shoring up public finances.

“The recommendation calls for policies that support inclusive and sustainable growth, and improve resilience, rebalancing and convergence within the euro area,” the Commission said in its recommendation EU states for 2019-2020.

“It recommends that reforms that increase productivity and growth potential, deepen the single market, improve the business environment, promote investment and improve the labour market should be prioritised,” it said.

A year ago, the EU executive recommended a broadly neutral fiscal stance and a balanced policy mix, urging investment to boost growth as well as further structural reforms.

(Reporting by Philip Blenkinsop)

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