Germany will have to increase contributions to the budget due to Brexit

The European Commission called on Germany, Europe’s largest economy, to increase payments to the EU budget in the next 10 years to 12 billion euros a year after the UK’s withdrawal from the EU. Germany, as the largest payer in the Union’s budget, will have to pay an additional 3.5-4 billion euros per year, EU budget commissioner Günther Oettinger said in an interview with ARD media company in Brussels. Deutsche Welle reports that the EU draft budget submitted by the European Union for the period 2021-2027 is1 trillion 135 billion euros. It is planned to reduce the appropriations for the needs of farmers by 5%. Appropriations are also planned to be reduced for structural reforms in the regions. Oettinger noted that the cuts were related to Brexit, as well as to the new tasks of the European Union in the spheres of migration and defense.

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions
Something went wrong