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5/23, 11:29 AM (Source: TeleTrader)
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EU to keep borrowing limits suspended in 2023

The European Commission said in a statement on Monday that the borrowing limits for the Member States will be suspended for the next year to mitigate the effects of Russia's military intervention in Ukraine, but that the restrictions will be reinstated in 2024.

The Ukraine crisis, as well as rising oil prices and continuous supply chain disruptions, have all clouded the economic outlook for the coming year, necessitating a swift response from the national budgetary policy. According to Brussels, the decision will guarantee that the economies transition smoothly through borrowing strategies.

Baha Breaking News (BBN) / AB