EUROPEAN UNION UNVEILS 7-YEAR BUDGET FORECAST


15/02/2020




Serhat TUNAR -TDO- (15.02.2020) - The European Union Commission shared the Union's long-term budget forecasts for 2021-2027 with the public on Friday (yesterday).

According to the budget forecast, the European Union is projected to invest 1279 billion euros in the union between 2021 and 2027.

The European Union Commission also increased the contribution of member states to the common budget after taking into account factors such as inflation, economic growth and the UK's exit from membership.

According to the European Union Commission, inflation and economic growth are the most important factors in increasing the contribution. Britain's subsequent exit from membership is also cited as the third major reason for other countries to increase their contributions.

An eighth of the increase in countries ' contributions will happen because of Brexit. 25 percent of the budget increase will go to investments in research, digital space, defense, immigration, global warming.


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