NEWS

THE EC EXPRESSES SUPPORT FOR ESC'S PROPOSALS FOR REFORMING ECONOMIC GOVERNANCE

The resolution of the Bulgarian Economic and Social Council on the topic of the Economic Governance Review, dedicated to the European Commission's Communication on Economic Governance Reform, is a useful contribution to the public debate on this topic, said in a letter to the Director General for Economic and Financial Affairs at the EC Maarten Verwey to the President of the Economic and Social Council Prof. L. Dulevski. The aim of the EC is to open a broad discussion with all stakeholders and to highlight different points of view and ideas for better economic governance, wrote Mr. Verwey.

The letter of the Director General for Economic and Financial Affairs in the EC is in response to the ESC resolution for improving economic governance sent to the former Commissioner for Trade Phil Hogan.  Your suggestions and views expressed in the document will be taken into account by the Commission when drawing its conclusions on possible reforms. within the framework of economic governance, said the Director General for Economic and Financial Affairs. A full review of fiscal rules remains a priority for the EC, despite the delay due to the need for a quick response to Covid-19, the letter said. According to Mr. Verwey, the current crisis puts economic governance issues in a new context and new challenges and priorities are emerging that must also be addressed through economic governance reforms. He emphasises the expediency of the ESC proposal in taking into account the formation and improvement of the principles and rules of economic governance to take into account these new challenges and priorities that arose during the Covid-19 pandemic.

ESC also proposes that the future economic governance should not focus only on fiscal indicators, but also include social indicators, as well as environmental indicators related to the Green Deal.

According to Mr. Verwey, the Commission also agrees with the need proposed in the ESC resolution for a framework to ensure the long-term stability of public finances and, in particular, to keep debt at reasonable levels. In this regard, in its resolution ESC states that the achievement of the maximum degree of coordination between national fiscal policies, on the one hand, and their combination with the monetary policy of the ECB, on the other hand, must be done by ensuring long-term stability of public finances. and at the same time enable member states to manage economic and social processes, including through the implementation of cyclical and anti-crisis measures.

In conclusion, the Director General for Economic and Financial Affairs Martin Verwey welcomed on behalf of the Commission the efforts of ESC, as a representative of organized civil society in Bulgaria, to involve a wide range of stakeholders in the dialogue on future economic governance in Europe.

MISSION

“THE CIVIL PARLIAMENT” OF BULGARIA

is the “bridge” between citizens and the national government. Its mission is to support such “bridging” so as to facilitate the communication between the society and the national government. It is the new and modern institution of the civil dialogue.

The ESC's mission is to promote civil society organisations access to and involvement in the process of decision-making on strategic economic and social issues.

The main goal of ESC's operation is to enable different representatives of organised civil society to feel free to state their views whereas unanimity on matters of common interest is encouraged. The Council expresses and protects civil society interests by communicating agreed statements and proposals submitted by its members to the executive and legislative authorities.

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