November 21, 2018 / 11:49 AM / 6 months ago

EU Commission advises euro zone to boost growth, improve finances

A man is seen in front of a sheet of five Euro notes at the opening of the new Central Bank of Ireland offices in Dublin, Ireland April 24, 2017. REUTERS/Clodagh Kilcoyne

BRUSSELS (Reuters) - The European Commission said on Wednesday it had adjusted its recommendation for the euro zone as a whole to have a stronger focus on what it said were the key challenges of boosting growth and shoring up public finances.

“The recommendation calls for policies that support inclusive and sustainable growth, and improve resilience, rebalancing and convergence within the euro area,” the Commission said in its recommendation EU states for 2019-2020.

“It recommends that reforms that increase productivity and growth potential, deepen the single market, improve the business environment, promote investment and improve the labor market should be prioritized,” it said.

A year ago, the EU executive recommended a broadly neutral fiscal stance and a balanced policy mix, urging investment to boost growth as well as further structural reforms.

Reporting by Philip Blenkinsop

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