25 May

At the ECOFIN meeting on 24 May, ministers had extensive discussion on the current economic situation.The debate was based on the Commission’s most recent economic forecast. There was a consensus that the most important task for the upcoming period is to keep inflation in check.

Another important topic of the meeting was the question of providing further financial assistance to Ukraine. Ministers welcomed the proposal for new macroeconomic financial assistance to Ukraine and examined the implementation of sanctions against Russia, including their economic és financial consequences.

Moreover, ministers held an exchange of views on the state of play regarding the implementation of the RRF, where they focused  on the amendment of the RRF Regulation related to the REPowerEU plan.

As an information point, the ECOFIN was briefed on the outcome of the last G20 meeting of finance ministers and central bank governors, on the state of play of the current legislative proposals in the field of financial services, and finally on the challenges facing the Customs Union.