{"id":1584864,"date":"2022-08-02T12:24:55","date_gmt":"2022-08-02T16:24:55","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1584864"},"modified":"2022-08-02T12:25:03","modified_gmt":"2022-08-02T16:25:03","slug":"euro-area-to-get-back-half-what-its-spending-on-war-fallout-ecb","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/euro-area-to-get-back-half-what-its-spending-on-war-fallout-ecb\/","title":{"rendered":"Euro area to get back half what it\u2019s spending on war fallout \u2013 ECB"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Feuro-area-to-get-back-half-what-its-spending-on-war-fallout-ecb%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1584864&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>FRANKFURT (Reuters) \u2013     Euro zone countries are spending more than they will get back to cushion the economic hit from the Ukraine war via fuel subsidies and other support measures, the European Central Bank said on Tuesday, telling governments to use their cash more efficiently.<\/p>\n<p>The 19 countries that share the euro approved support measures worth 0.9% of their gross domestic product, predominantly on measures to offset a surge in energy prices.<\/p>\n<p>But this should only increase euro area GDP growth by about 0.4 percentage points this year and reduce inflation by slightly less than that, mainly via lower energy prices, the ECB said.<\/p>\n<p>In the study, which was used an input for the ECB\u2019s 2022-24 economic projections, the bank estimated the impact on growth to fade next year and that on inflation to reverse.<\/p>\n<p>Over 2022-24, stimulus measures approved in response to the war are estimated to add slightly less than 0.4 percentage points to growth and curb inflation by just over 0.1 percentage point, the ECB said.<\/p>\n<p>It also found that half of the fiscal stimulus was aimed at supporting short-term fossil fuel consumption while only a minimal part contributed directly to the green transition.<\/p>\n<p>\u201cLooking ahead\u2026 efforts should be made to increasingly target energy related compensatory measures to the most vulnerable households,\u201d the ECB said.<\/p>\n<p>\u201cMoreover, incentives should be geared towards reducing the use of fossil fuels and dependence on Russian energy, while maintaining sound public finances.\u201d<\/p>\n<p> (Reporting By Francesco Canepa; Editing by Christina Fincher)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2733053\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/08\/tagreuters.com2022binary_LYNXMPEI710B2-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI710B2-VIEWIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FRANKFURT (Reuters) \u2013 Euro zone countries are spending more than they will get back to cushion the economic hit from the Ukraine war via fuel subsidies and other support measures,<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1584864","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1584864","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1584864"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1584864\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1584864"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1584864"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1584864"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}