The Juncker Plan has made major impact on EU jobs and growth
The Investment Plan for Europe, the Juncker Plan, has played a key role in boosting jobs and growth in the EU. Investments by the European Investment Bank (EIB) Group backed by the Juncker Plan’s European Fund for Strategic Investments (EFSI) have increased EU gross domestic product (GDP) by 0.9% and added 1.1 million jobs in the European labour market. By 2022, the Juncker Plan will have increased EU GDP by 1.8% and added 1.7 million jobs. Fresh figures following this month’s EIB board meeting show that as of October 2019, the Juncker Plan is set to mobilise €439.4 billion in additional investment across the EU. More than one million start-ups and small businesses are now expected to benefit from improved access to finance. President Jean-Claude Juncker said: “We have achieved what we set out to do: return Europe to solid growth and boost job creation. By 2022, the Juncker Plan will have added 1.7 million jobs to the EU labour market and increased EU GDP by 1.8%. I always said that the Plan was not a cure-all. But with more than one million small-sized companies receiving financing that wasn’t available to them before, we can be proud.” The macroeconomic figures are the latest calculations by the Joint Research Centre (JRC) and the Economics Department of the EIB Group, based on financing agreements approved until the end of June 2019.