Weighing the Prospects for a Revision of the EU Multiannual Budget 2021-2027
Weighing the Prospects for a Revision of the EU Multiannual Budget 2021-2027

Author(s): Melchior Szczepanik
Subject(s): Economic policy, EU-Accession / EU-DEvelopment, Public Finances
Published by: PISM Polski Instytut Spraw Międzynarodowych
Keywords: EU; multiannual budget; economic policy; strategy; prospects;
Summary/Abstract: The actions undertaken by the EU in relation to Russia’s invasion of Ukraine require considerable funding. An increase in the community budget, as advocated by the European Parliament, is, however, unlikely chiefly due to resistance from the countries that are net payers. Consequently, the EU will attempt to reprioritise funds within the budget and modify the plans for spending from the recovery fund. In the absence of consensus on new sources of revenue for the community, the likelihood of resorting to common borrowing for the purpose of new undertakings is low.

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