Economy
12:32 29 July 2021
Post by: WBJ

Cautious optimism about recovery of EU economies

Cautious optimism about recovery of EU economies
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Improving economic sentiment prompts cautious optimism about the pace of recovery in European Union countries, the World Bank estimates in a report.

World Bank analysts emphasize the role of a deliberate and coordinated strategy to support economic policies in individual member countries, particularly monetary and fiscal policies. These actions should be “carefully targeted and coordinated.”

According to World Bank economists, careful preparation and effective implementation of national recovery and development plans by EU member states are crucial for supporting growth and for countries to carry out the needed green and digital transformation.

The World Bank further estimates that in the short term, government programs, including those aimed at protecting jobs, will continue to be key to economic stabilization in EU countries. In the medium term, governments will need to shift to implementing policies that facilitate labor market recovery.

Particular attention, according to the World Bank, should be paid to vulnerable workers such as youth, the self-employed, the informally employed, and those on non-standard contracts. These workers were more vulnerable to employment transitions during the crisis and tend to stay out of the labor market for long periods of time.

The World Bank stresses in the report that countries should support measures that will allow employees to adapt their skills to two key economic trends: digitization and climate transformation. Investments in developing digital competencies of current and future employees can help.

(inwestycje.pl)


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