ECOFIN meeting kicks off in Budapest, key priority for sll EU countries

Strengthening the European Union’s competitiveness, a priority of Hungary’s presidency of the Council of the EU, is the main topic of an informal meeting of EU economy and finance ministers in Budapest, Finance Minister Mihály Varga said on Friday.

Ahead of the ECOFIN meeting

Speaking ahead of the meeting, Varga said all conditions were in place for a successful ECOFIN meeting, both regarding participants and topics on the agenda.

He added that all EU member states were represented at the meeting, most of them at a high level. The heads of member states’ central banks were present, too, along with representatives from the IMF, the OECD, the EBRD, and the EIB.

He said the meeting had been arranged around topics Hungary had already gained experience with, such as financing for the green transition. He added that potential options for EU support for low-income countries to manage their debt was also on the agenda.

On Saturday, he said participants would discuss current demographic processes related to national debt sustainability.

Informal meeting

He noted that the meeting was informal and no decisions would be taken.

Varga said he was confident that the meeting would result in advances in areas necessary to strengthen the EU’s competitiveness.

As we wrote today, IMF backs Hungary’s ambitious EU presidency goals.

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