(Finance) – In addition to that for the green and digital double transitionthe need for ingent investments for the next few years inEU is today increased still to face the energy crisis caused by the Russian war in Ukraine And get rid of dependence on Russia. All that “will ask also a more favorable framework of budgetary rules and potentially new instruments at the European level “, and this” will form a crucial part of the ongoing debate on the revision of the economic governance“, and of the proposals to modify the EU Stability Pact that the European Commission will present after summer.
This was stated by the EU Commissioner for the Economy, Paolo Gentiloni, speaking by videoconference at the Global Productivity Forum’s Annual Conference for 2022 today in Brussels. “The investment needs – he noted – continue to increase as new challenges emerge: as a result of Russia’s aggressive war against Ukraine, both the energy and security landscape in Europe have changed dramatically. Facing our challenges, for our energy independence, for our strategic autonomy, for our common defense, it will require a mountain of investments “.
“Previously – the commissioner recalled – we had estimated an additional investment requirement of 650 billion euros per year until 2030 for the green and digital transition, of which 520 billion euros for the green transition alone. And this is likely to be the minimum threshold of actual needs, as a consequence of the need to finance them investment in energy following the war and to free ourselves from Russian imports “.
“Our ‘REPowerEU’ plan – continued Gentiloni – estimates that additional investments of 210 billion euros will be needed between now and 2027 to increase energy savings, diversify supplies and boost renewable energy “. “Financing these investments will also require a more favorable framework of fiscal rules and potentially new instruments at the European level. This is a key element of the ongoing debate on the revision of economic governance. We will present our proposals in this regard after the summer “, concluded the commissioner.