Eurogroup says concerned about slow public debt reduction in some Euro Zone countries

Baku. 4 December. REPORT.AZ/ Slow public debt reduction in some Euro Zone Countries arouses concern, Report informs citing Eurogroup.

"The Eurogroup reiterates that a slow pace of debt reduction from high levels in a number of Member States remains a matter for concern and should be decisively addressed ... The Eurogroup recalls in this context that the focus on sufficient debt reduction and the adjustment towards the MTO [Medium-Term Budgetary Objectives] are an integral part of the Stability and Growth Pact (SGP)," the statement reads.

According to the latest forecasts of the European Commission, the total public debt of the Eurozone will be reduced from 89% of GDP in 2017 to 87% of GDP in 2018 and 85% in 2019.