Opening Statement by Commissioner Dombrovskis at European Parliament ECON-EMPL committees on the European Semester

European Commission -Speech [Check Against Delivery] Opening Statement by Commissioner Dombrovskis at European Parliament ECON-EMPL committees on the European Semester Brussels, 28 January 2025 Honourable co-chair, Honourable Members of the European Parliament. I am happy to have this first joint ECON-EMPL dialogue with you on the European Semester under the new European Commission and look forward to closely engaging with you all in the years ahead. At the start of 2025, Europe finds itself navigating a highly complex international environment. At the same time, the EU is confronted with significant structural challenges, including low productivity growth, population ageing addressing the green and digital transitions, which if they are left unaddressed, they threaten our long-term prosperity. It is clear that urgent action is needed. Building on Draghi and Letta reports, we must work together to boost competitiveness and productivity. Meeting these challenges requires also macroeconomic stability . We have already taken important steps in the implementation of the new economic governance framework with the recent European Semester Autumn Package. Overall, the Commission's assessment of Member States' medium-term plans finds that they are delivering on objectives of strengthening debt sustainability and fostering sustainable and inclusive growth through targeted reforms and investments. It is encouraging that almost all plans are in line with...