Addressing the assembly on Tuesday, National Economy Minister Márton Nagy pointed to the need to temporarily ease the EU’s fiscal regulations and channel more resources to the digital and green transitions, according to news wire MTI.
He pointed to the Budapest Declaration on the New European Competitiveness Deal adopted at an EU summit in Budapest earlier in November.
He also said that the Draghi and Letta reports had warned the EU would fall behind China and the United States in the global competition if fiscal rules weren’t loosened and more money wasn’t ploughed into the digital and green transitions.
Hubert Gambs, the European Commission’s deputy head for the Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs, said proposals made at the meeting in Budapest could contribute to the drafting of the EC’s new single market strategy set to be unveiled in the summer of 2025.
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