Finance Minister in Luxembourg to attend Eurogroup-ECOFIN meetings

The Minister of Finance, Makis Keravnos, is in Luxembourg to participate in the Eurogroup and ECOFIN Council meetings to be held on 19 and 20 June, respectively.

According to a statement by the Ministry of Finance, on Thursday 19 June, the Minister will participate in the Eurogroup meeting, where Ministers will first exchange views with IMF representatives on the effectiveness of economic policy coordination in the Eurozone, and then approve a recommendation for Bulgaria to adopt the euro on 1 January 2026.

It is added that in an enlarged format, with the participation of the Ministers of Finance of all EU Member States, the IMF will present an analysis on strengthening the competitiveness and productivity of the European economy, after which the ministers will be briefed by the European Commission and the European Central Bank on the progress made regarding the implementation of the Digital Euro.

On Friday, 20 June, the Minister of Finance will participate in the ECOFIN Council, which will begin with a presentation on the progress of work on the reform of the Customs Union, the statement continues.

It is added that the Ministers will then discuss strategies for reducing energy prices with a view to strengthening competitiveness, on the basis of a guidance document prepared by the Polish Presidency. Furthermore, Ministers will exchange views on the European Semester Spring Package, the mechanism for coordinating the economic policies of EU Member States, following a presentation by the European Commission.

In addition, the Council will adopt recommendations on the medium-term fiscal and structural plans of Belgium and Bulgaria, as well as on the excessive deficit procedure for Belgium and Romania.

The Convergence Reports of the European Central Bank and the European Commission will also be examined, the Convergence Reports of the European Central Bank and the European Commission will also be examined, while the adoption of the recommendation of the euro area Member States on the European Commission's proposal for Bulgaria's accession to the euro area is expected.

The ECOFIN Council will also be informed about the implementation of the Recovery and Resilience Mechanism and is expected to approve the amended Recovery and Resilience Plans for several Member States (Cyprus, Belgium, Malta, Lithuania, Poland, Croatia, Slovenia, and Italy).

On the sidelines of the Council, Keravnos will participate in the annual meetings of the governors of the European Stability Mechanism and the European Central Bank, the statement concludes.

(Source: CNA)