The European Commission is expected on Tuesday to present a proposal to amend the long-term budget of the European Union, aimed at supporting Ukraine in the coming years. The change should also help address higher costs for joint debt service, EU officials told Reuters news agency.
This year, around €18 billion will go to Ukraine from the EU. The Union wants to find a long-term and stable solution for the years to come, so that Kiev will have financial security while defending itself against the Russian invasion.
“The EU is ready to provide sustainable and predictable financial support to Ukraine beyond 2023 to maintain macro-financial stability and support reconstruction,” said European Commission President Valdis Dombrovskis.
80 billion
Some officials estimate that the additional space in the EU budget for Ukraine could amount to around EUR 20 billion a year, bringing the total amount to over EUR 80 billion in total from next year until 2027. Furthermore, the review would also include a proposal for a new source of revenue for the budget, tied to corporate earnings.
The EU treasury is diligently looking for new money due to rising interest rates. These ensure that the €800 billion of debt that the EU will collectively have by 2026 will have increased significantly.
Source: BNR
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