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Euro zone finmins reject 2017 fiscal stimulus target - Dijsselbloem
December 5, 2016 / 2:17 PM / a year ago

Euro zone finmins reject 2017 fiscal stimulus target - Dijsselbloem

BRUSSELS (Reuters) - Euro zone finance ministers would not set a target for fiscal stimulus for the single currency area next year, the chief of the Eurogroup said on Monday, rejecting an earlier proposal by the EU Commission meant to boost growth.

Dutch Finance Minister and Eurogroup President Jeroen Dijsselbloem arrives at a euro zone finance ministers meeting in Brussels, Belgium December 5, 2016. REUTERS/Francois Lenoir

In a regular meeting in Brussels, ministers agreed that the bloc’s countries are improving their fiscal stances and may be able to spend more in the future “but putting a figure on that or making that a target has not been agreed by the Eurogroup,” Jeroen Dijsselbloem told a news conference.

With euroscepticism growing in Europe after years of slow growth and persistent unemployment, the Commission proposed earlier in November loosening budget policy for the 19-country euro zone. It suggested fiscal expansion of 0.5 percent of gross domestic product next year.

Reporting by Francesco Guarascio and Philip Blenkinsop

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