{"id":137135,"date":"2019-11-08T04:40:24","date_gmt":"2019-11-08T04:40:24","guid":{"rendered":"https:\/\/www.bnreport.com\/spend-now-to-rescue-economic-growth-dombrovskis-says\/"},"modified":"2019-11-08T04:40:24","modified_gmt":"2019-11-08T04:40:24","slug":"spend-now-to-rescue-economic-growth-dombrovskis-says","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/spend-now-to-rescue-economic-growth-dombrovskis-says\/","title":{"rendered":"Spend now to rescue economic growth, Dombrovskis says"},"content":{"rendered":"<p>European Commission Vice President Valdis Dombrovskis Thursday urged governments to spend now to boost eurozone growth after monetary policy has struggled to stimulate business.<\/p>\n<p>The Latvian issued the call as part of the Commissions <a href=\"https:\/\/www.politico.eu\/wp-content\/uploads\/2019\/11\/Forecast-Tables-EN2.pdf\" rel=\"noreferrer noopener\" target=\"_blank\">latest economic forecast<\/a>, which downgraded projections made in July for both 2019 and 2020.<\/p>\n<p>Eurozone gross domestic product is now set to come in at 1.1 percent this year, then 1.2 percent in 2020 and 2021. In July, Brussels said GDP would increase by 1.2 percent this year and 1.4 percent in 2020.<\/p>\n<p>Uncertainty from Brexit and global trade tensions between the U.S. and China are chiefly to blame for the downturn.<\/p>\n<p>Dombrovskis especially called on countries with extra cash, such as Germany and the Netherlands, to start spending to counter the slowdown.<\/p>\n<p>\u201cThose Member States that have fiscal space should use it now,\u201d Dombrovskis said in a <a href=\"https:\/\/www.politico.eu\/wp-content\/uploads\/2019\/11\/Autumn-Forecast-IP_EN.pdf\" rel=\"noreferrer noopener\" target=\"_blank\">statement<\/a>. \u201cI urge all EU countries with high levels of public debt to pursue prudent fiscal policies and put their debt levels on a downward path.\u201d<\/p>\n<p>Eurozone gross domestic product is now set to come in at 1.1 percent this year. In July, Brussels said GDP would increase by 1.2 percent this year.<\/p>\n<p>The calls come almost two months after the European Central Bank cut its target <a href=\"https:\/\/www.politico.eu\/article\/dombrovskis-says-spend-now-to-rescue-economic-growth\/?utm_source=RSS_Feed&amp;utm_medium=RSS&amp;utm_campaign=RSS_Syndication\" rel=\"noreferrer noopener\" target=\"_blank\">Read More \u2013 Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>European Commission Vice President Valdis Dombrovskis Thursday urged governments to spend now to boo..<\/p>\n","protected":false},"author":1,"featured_media":137139,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-137135","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Spend now to rescue economic growth, Dombrovskis says - 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