EU Commission: Dombrovskis, Europe needs reforms and investments. Major imbalances between Member States

(Brussels) “The European economy is growing for the seventh consecutive year and is set to continue expanding in 2020, with all Member States’ economies growing despite less favourable conditions and global uncertainties. The number of people in employment is at a record high and unemployment at a record low”. The European Commission paints a positive overall picture of the EU economy on the day on which it presents “the 2019 country-specific recommendations”, a document providing evaluation and guidance that is to be submitted to the Council for consideration and approval. Yet, according to the text, “at the same time, there are still significant differences between countries, regions and population groups”. Against this backdrop, the Commission “calls on Member States to build on the progress made in recent years. Effective reforms, accompanied by well-targeted investment strategies and responsible fiscal policies, continue to provide a successful compass for modernising the European economy”. European Commission Vice-President Valdis Dombrovskis said the “European Semester has made a real contribution to improving the economic and social situation in Europe. Yet, some important challenges remain, and now risks to the economic outlook are growing. It is worrying to see reform momentum weakening in some countries”.