Jan 20, 2022

Management plan 2022- Economical and Financial affairs

DG ECFIN aims to contribute to raising economic standards in the European Union by fostering competitive, employment-rich economies, where Europeans can thrive, now and in the future. It also develops the means for Europe to be a leading force for stability and prosperity in the world. To achieve this, DG ECFIN’s activities are structured along two main angles. First, DG ECFIN undertakes economic analysis and contributes to economic policy surveillance and coordination, focusing on macroeconomic and fiscal policies. Second, DG ECFIN is involved directly and indirectly in the provision of financial support to companies and governments in the European Union. Beyond the European Union, DG ECFIN engages in multilateral and bilateral relationships with international financial institutions and channels financial assistance to partner countries, including candidate countries and those in our geographical neighbourhood.

The COVID-19 pandemic has deeply impacted the European economy and, in turn, the activities and responsibilities of DG ECFIN. The European Union and its Member States have adopted a forceful and coordinated policy response to mitigate the negative consequences on European citizens and on companies. DG ECFIN has been at the forefront of the Union economic recovery strategy. In particular, DG ECFIN is responsible for the instrument for temporary Support to mitigate Unemployment Risks in an Emergency (SURE), which provides loans to Member States to help them address the negative economic and social consequences of the COVID-19 outbreak. It is also responsible for the exceptional Macro[1]financial Assistance (MFA) provided in the context of COVID-19 to ten partner countries in the EU neighbourhood. Finally, DG ECFIN is responsible, together with the Recovery and Resilience Task Force (RECOVER) for the design and the implementation of the Recovery and Resilience Facility (RRF). The RRF, which is the centrepiece of the European economic strategy for the recovery, will finance reforms and investments in Member States until 31 December 2026.