"Neither the EU nor Ukraine has the luxury of delaying financial support longer"
On 15-16 January, Minister of Finance Gintarė Skaistė will participate in the meetings of the Eurogroup (EG) and the Council of Finance Ministers of the European Union (EU) (ECOFIN) in Brussels. The meetings will focus on the discussion of the economic situation, further financial support for Ukraine, and the use of frozen Russian assets.
"It is necessary to find an agreement on the EUR 50 billion financial support package for Ukraine in the near future. Neither the EU nor Ukraine has the luxury of waiting any longer. If a unanimous decision on support cannot be reached in the coming weeks, a plan B must be in place to ensure that financial support to the defending country does not stop. In addition, we must move forward with the use of frozen Russian assets. The first step in this direction is to channel the profits of EU financial institutions from the frozen assets of the Russian central bank to the needs of Ukrainians. The second step, I believe, must be the use of the frozen assets, which is worth more than EUR 300 billion, for the reconstruction of Ukraine. Recently, we have heard that Western partners tend to move in this direction, and the EU should also follow this direction," said G. Skaistė.
Belgium, which holds the EU Council presidency from the beginning of this year, will present its work programme. The main focus will be on completing the revision of EU fiscal rules, ensuring financial support for Ukraine, and issues related to the deepening of the EU Banking Union and the Capital Markets Union. It is also planned to complete the mid-term review of the EU Multiannual Financial Framework 2021-2027 and to continue the dialogue on the EU's new own resources.
At the EG meeting, ministers will discuss the economic situation and prospects of the euro area, including the further development of inflation. Ways to strengthen economic competitiveness will also be considered, and economic policy recommendations for the euro area will be approved.
Last updated: 17-01-2024
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