The war in Ukraine has provoked “budget battles” in the EU.

The financing of Ukraine accounts for half of the almost €100B that the European Commission is asking to allocate in order to strengthen the EU budget for 2021-2027. The other half will be divided among six areas: migration, a sovereign fund for implementing the industrial plan, interest on debt for post-pandemic recovery, personnel costs, and a contingency reserve. As Euronews writes, the European Parliament’s budget committee wants to increase spending by another €10B. In particular, the EU wants to contribute more money to the €50B Ukrainian Fund to support the country from 2024 to 2027. These funds will be divided into grants and loans. The European Parliament has approved the European Commission’s proposal to revise the budget but opposes cuts to current programs. Such ambitions are likely to meet resistance from the European Council, as several member states do not want to pay more into the Brussels coffers or take on new joint debt obligations.


Ukraine War 24

Ukraine War 24

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