Eurogroup praises Cyprus for growth & development
President of Eurogroup Mr. Jeroen was pleased with the growth in the Europe area namely Cyprus and Spain, during 2017 autumn this year Cyprus has the fastest impact growth which exceeded expectations in terms of the declining unemployment rate, oil and gas production increase and investment also picking up a favorable rate.
For the years to come in 2018, Eurogroup is reviewing the budgeting plans for the following countries: Belgium, France, Italy, and Austria. As well as inviting state ministers of the various countries to discuss matters on the improvement of economic growth and compliance issues.
Background of Eurogroup
Eurogroup was created in December 1997 and was formed by the Finance Minister who also suggested a universal currency (the euro) for Austria, Belgium, Cyprus, Finland, Greece & France etc. Every month, one minister from each euro group would be selected to conduct an informal meeting to discuss matters on economic stability between Europe countries. Eurogroup is managed by President Jeroen Dijsselbloem a former Finance Minister in the Netherlands.