Thank you Roxana. Good afternoon everyone.
Todays package summarized in two words: competitiveness and security.
It brings us back to the core of the European project: peace and prosperity.
Competitiveness is a top priority for the European Commission.
The world will not wait for us; we must act now.
Our Competitiveness Compass outlines the course for the next five years for a more competitive Europe.
It is essential that the EU continues to effectively coordinate its economic and social policies to enhance our competitiveness and secure our long-term prosperity.
The European Semester is the key mechanism to achieve this.
The recommendations for member states include:
- simplifying administrative processes,
- increasing public and private R&D investments,
- addressing labor and skill shortages,
- strengthening energy infrastructure,
- and phasing out fossil fuel subsidies.
By implementing these recommendations, member states can collectively enhance Europes competitiveness.
The recommendations on fiscal policy focus on improving the efficiency and quality of public finances.
A brief word on the Recovery and Resilience Facility as the final stage approaches.
With just over a year remaining until the August 2026 deadline, time is ticking.
We have made recommendations to certain member states to accelerate implementation.
After this press conference, I will present the communication on the closure of the Recovery and Resilience Facility.
This leads us to our second major priority: security.
The ReArm Europe plan is designed to encourage significant and sustained defense investments.
The activation of the national escape clause is a key pillar of this initiative.
So far, 16 member states have requested activation.
The flexibility under the national escape clause allows deviations from the recommended maximum growth of net expenditure.
With todays positive assessments, we take an important step to leverage these advantages.
This Spring Package marks an important milestone in the implementation of the new economic governance framework.
For the first time, the Commission assesses the implementation of medium-term plans.
Our assessment is generally positive.
The Commission published a convergence report concluding that Bulgaria now meets all the criteria to become the 21st member of the euro area.
This report is a historic moment for Bulgaria and the European Union.
It is not the final step but an important one.
With todays positive reports, we can take significant steps towards more stability and greater international influence of the euro.
The euro is more than a currency; it is a tangible symbol of European unity.
That concludes my remarks. Thank you very much.