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Minister Šircelj at informal video conference of the Economic and Financial Affairs Council

Today, Minister Andrej Šircelj attended an informal video conference of the economic and finance ministers (ECOFIN Council). As part of the discussions on the economic recovery in the European Union, Minister Šircelj presented the concept of the Slovenian recovery and resilience plan.

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Minister Andrej Šircelj | Author Polona Avanzo

The main part of the Slovenian recovery and resilience plan are the areas of resilience, green policies, digitalisation, and innovation. The plan focuses on a reform of the healthcare system and long-term care system, social security, and housing policy. It will provide conditions for better production from renewable sources of energy. It will encourage efficient energy use, sustainable refurbishment of buildings, sustainable mobility, and circular economy. In the field of digitalisation, the plan is oriented towards digital transformation of the public and private sectors. The plan will encourage innovation, research, and development, which will ensure higher productivity. On the labour market, measures from the Slovenian recovery and resilience plan will mitigate the consequences of negative structural trends. What is more, funds will be intended for strengthening the knowledge and competences required for the professions of the future.

As part of the discussion on the economic recovery in Europe, the ministers reviewed the implementation of the Recovery and Resilience Facility, and the European Commission presented its communication on the financing of NextGeneration EU. The ministers furthermore exchanged views on the state of the European financial architecture for development and the options for its further strengthening. The European Commission presented to the ministers the current developments regarding the formation of the Capital Markets Union. It focused on the European Single Access point, the purpose of which is to provide a simpler access to information about companies in the EU and further digitalisation of information.

Today, Minister Šircelj also attended a video conference of the Eurogroup, which started in the morning.

At the session of the Eurogroup in the inclusive format, the ministers were informed about progress in the formation of the Banking Union. The resilience of the banking system during the Covid-19 pandemic is a result of the work implemented so far in the formation of the Banking Union, which additionally confirms the need for further, balanced work. In the regular format of the Eurogroup, the ministers discussed insolvency frameworks and their importance for achieving a quicker recovery. Effective insolvency frameworks may specifically provide for more robust growth and deeper financial integration within the euro area. The ministers also took stock of ongoing work on the euro as a digital currency based on a report by the European Central Bank.