중동부유럽

Authorities in the euro area have taken exceptional policy action to stem the economic fallout from the coronavirus (COVID-19) pandemic. The ECB committed to using the full potential of the monetary policy tools at its disposal within its mandate. At the same time, euro area governments implemented sizeable packages of fiscal measures, consisting, in particular, of discretionary fiscal stimulus measures. As of end-May 2020, the discretionary fiscal measures by themselves amounted to about 3.25% of GDP at the aggregate euro area level.[1] Furthermore, leaders at the European level have agreed on a major recovery plan embedded in the EU budget. When implemented, the EU budget will temporarily almost double in size to around 2% of GDP.