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The Council adopted yesterday (24 May 2022) a regulation allowing for temporary trade liberalisation and other trade concessions with regard to certain Ukrainian products. This means that for one year import duties on all Ukrainian exports to the European Union will not be due. Thanks to these measures the EU will be able to significantly […]
GDP up by 0.3% and employment up by 0.5% in the euro area. In the EU, GDP up by 0.4% and employment up by 0.4% (figures released by Eurostat). GDP growth in the euro area and EU In the first quarter of 2022, seasonally adjusted GDP increased by 0.3% in the euro area and by […]
MEPs call for funding to deal with the consequences of the war in Ukraine, by confiscating Russian oligarchs’ assets, new EU own resources, and using the existing EU budget fully. Adopting a resolution (19 May 2022) on the economic and social consequences for the EU of Russia’s war in Ukraine by a show of hands, […]
To ensure that the EU meets its objectives for a digital transformation in line with EU values, member states today agreed on a negotiating mandate for the 2030 policy programme ‘Path to the Digital Decade’. This text aims to strengthen the EU’s digital leadership by promoting inclusive and sustainable digital policies that serve citizens and […]
The annual rate of inflation worldwide, as measured by the consumer price index (CPI), accelerated to 9.2 per cent in March 2022, up from 7.5 per cent in February 2022, 6.8 per cent in January 2022 and 6.4 per cent in December 2021 (figures by ILO) The inflation rate in March 2022 was more than […]
To ensure a level playing field for all companies operating in the internal market, member states today agreed a negotiating mandate for the regulation on foreign subsidies distorting the internal market. Mandate has been approved by the Council’s Permanent Representative’s Committee (Coreper), so the Council can start negotiations with the European Parliament as soon as the […]
According to International Monetary Fund (IMF) Global economic prospects have been severely set back, largely because of Russia’s invasion of Ukraine. This crisis unfolds even as the global economy has not yet fully recovered from the pandemic. Even before the war, inflation in many countries had been rising due to supply-demand imbalances and policy support […]
Social Security registered 2,342,004 foreign affiliates in March after discounting seasonality and the calendar effect. This is 6,788 (0.29%) more employed people than the previous month and 152,583 more than in February 2020, before the impact of the pandemic. This is the tenth consecutive month of employment growth of this group which, in the first […]
At today’s meeting, the Permanent Representatives Committee endorsed a Council recommendation on the conversion of hryvnia banknotes into the currency of member states hosting people escaping the war in Ukraine. The objective is to further support refugees who are having difficulty exchanging their banknotes into EU currencies. The recommendation invites member states to set up […]
In terms of employment, young people have been more strongly impacted by the COVID-19 pandemic than older people. The employment rate in the EU among young people (aged 15-29) in the third quarter of 2020 was -2.8 percentage points (pp) compared with the pre-pandemic third quarter of 2019. However, the third quarter of 2021 saw […]
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