On the other hand, we are likely to see significant growth in public spending over the year ahead, reflecting fiscal policy decisions.
SPEECH  The risks of stubborn inflation Speech by Isabel Schnabel, Member of the Executive Board of the ECB, at the Euro50 Group conference on “New challenges for the Economic and Monetary Union in the post-crisis environment” Luxembourg, 19 June 2023 The ECB has taken forceful action in response to the unprecedented surge in euro area inflation.