Finance minister to participate in ECOFIN Council meeting

Finance Minister Tanczos Barna will participate in Brussels on Tuesday in the meeting of the Economic and Financial Affairs Council, according to ministry representatives.

According to information published on the European Council's website, on this occasion, the Polish Presidency will present its work programme in the economic and financial affairs area for the first semester of the year, said Agerpres.

Additionally, the ministers will take part in an orientation debate on ensuring a globally competitive business environment in Europe through simplification, streamlining, and reducing the regulatory burden. They will be invited to provide the Commission with information on the planned "omnibus" regulation proposal, which aims to streamline and reduce the regulatory burden on businesses.

The ministers will also exchange views on the current situation regarding the economic and financial impact of Russia's aggression against Ukraine, based on updated information presented by the Commission.

During the ECOFIN meeting, the Council is set to adopt recommendations regarding the medium-term budgetary-structural plans within the framework of the implementation of the economic governance framework.

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At the same time, the Council is expected to adopt recommendations for member states currently under an excessive deficit procedure, urging them to take effective corrective measures within a certain timeframe.

Continuing the work on the 2025 European Semester, the Commission will present the 2025 Alert Mechanism Report and the draft recommendation of the Council on the economic policy of the Eurozone. The presentation will be followed by an exchange of views.

According to the quoted source, the ministers will also review the implementation of the Recovery and Resilience Mechanism (RRM), and the Council will adopt implementation decisions to approve the revised recovery and resilience plans presented by some member states.

Furthermore, the Presidency will present the current status of legislative proposals in the area of financial services.