European Commission's Executive Vice-President and Commissioner for Trade Valdis Dombrovskis said on Tuesday that member states' deficits are set to narrow slightly this year but debt ratios will edge up again. "This stresses the need for sustained and gradual debt reduction strategies in line with the new economic governance framework," he insisted.
Dombrovskis said the European Commission's autumn economic forecast indicated a gradual resumption of growth, the continued reduction of inflation and a strong labor market performance but warned of high uncertainty continuing into next year. He also stressed the need to continue supporting Ukraine's economy, which "has remained remarkably resilient" but will still rely on outside assistance in 2025.
