March 16, 2020 / 8:05 PM / 2 months ago

EU fiscal support for economy against virus at 1%/GDP, 10%/GDP in guarantees- statement

BRUSSELS, March 16 (Reuters) - Euro zone finance ministers said on Monday the bloc had so far deployed a fiscal boost worth 1% of its gross domestic product to help the economy with the effects of the coronavirus epidemic and pledged to do more if needed.

"We have, so far, decided fiscal measures of about 1% of GDP, on average, for 2020 to support the economy," a joint statement issued at the end of a videoconference said.

"We have, so far, committed to provide liquidity facilities of at least 10% of GDP, consisting of public guarantee schemes and deferred tax payments," the statement added.

"These figures could be much larger going forward," it added. (Reporting by Francesco Guarascio @fraguarascio)

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