Print Magazine
Brussels Morning Newspaper
Sunday, June 26, 2022
No Result
View All Result
  • Home
    • About Us
  • EU institutions
    • Commission
    • Parliament
    • Council
  • Europe
  • World
  • Economy
  • Culture and Society
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Europe With Transparency
    • Sustainable Perspective
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
Brussels Morning Newspaper
  • Home
    • About Us
  • EU institutions
    • Commission
    • Parliament
    • Council
  • Europe
  • World
  • Economy
  • Culture and Society
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Europe With Transparency
    • Sustainable Perspective
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
Brussels Morning Newspaper
No Result
View All Result
Home EU Institutions Commission

EU to borrow €150bn annually until 2026

Nikola Kiš by Nikola Kiš
15 April 2021
in Commission
Euro,Coins,And,Banknotes,Freely,Laid,On,The,European,Flag.
Share on FacebookShare on Twitter

Brussels (Brussels Morning) The European Commission announced plans to borrow roughly 150 billion euro annually until 2026 for its green push and digitalisation, which would make it the largest debt issuer in euro, Reuters reported on Wednesday.

The economic plan was originally agreed at some 750 billion euro, but now stands at approximately 807 billion due to inflation.

The plan is made up of 386 billion euro in loans and 338 billion in grants, to be split between 27 EU member states, with the remainder allocated to joint programmes.

Pre-financing to start this year

The money is to be distributed over five years, with roughly one third assigned for the green push. EU member states can receive 13% of their respective shares in pre-financing this year.

The European Commissioner for Budget and Administration, Johannes Hahn, pointed out that the EU could borrow approximately 45 billion euro in the third quarter this year if member states opt to focus on grants in pre-financing.

The EC announced plans to issue bonds with maturities between 3 and 30 years as well as bills with maturity below one year. Borrowing can start once all EU member states have ratified the Own Resources Decision, which establishes how EU budget is financed.

“Our structures will be ready by June and theoretically we could start borrowing then, but it depends on how quickly member states complete the ratification process”, Hahn observed.

New taxes to repay new debt

The borrowing will be repaid through new taxes that the EU is to impose in the coming years. Repayments should start in 2028 and end in 2058, with EU member states to repay the loans they raised and grants to be repaid from the EU budget.The new taxes, which have yet to be agreed on, should include taxation of goods imported from countries less dedicated to curbing CO2 emissions, a digital tax and new CO2 taxes.

Tags: Main-Slider

Latest post

Mont,De,Marsan,Landes,France,05,17,2019,Eurofighter,Typhoon

German MTU hopes for new contracts in Luftwaffe overhaul

1 day ago
Flags,Of,Moldova,European,Union,And,Ukraine

Supporting Moldova means supporting stability in Ukraine

2 days ago

Most Read

  • These are the 10 highest paying jobs in the Europe in 2022

    These are the 10 highest paying jobs in the Europe in 2022

    0 shares
    Share 0 Tweet 0
  • What Are The Highest Paying Jobs In Luxembourg?

    0 shares
    Share 0 Tweet 0
  • Energy Recovery Fund

    0 shares
    Share 0 Tweet 0
  • What Are The Highest Paying Jobs In Finland?

    0 shares
    Share 0 Tweet 0
  • A taste of Croatian flavors of the diplomacy in Brussels

    0 shares
    Share 0 Tweet 0
Facebook Twitter Youtube LinkedIn

About Us

Brussels Morning is a daily online newspaper based in Belgium. BM publishes unique and independent coverage on international and European affairs. With a Europe-wide perspective, BM covers policies and politics of the EU, significant Member State developments, and looks at the international agenda with a European perspective.

Category

  • Ambassador’s Corner
  • Belgium News
  • Brussels
  • Commission
  • Council
  • Culture and Society
  • Diplomacy
  • Economy
  • EU Institutions
  • Europe
  • Europe With Transparency
  • Features
  • In Depth
  • Member States
  • Middle East Eye
  • Opinion
  • Our pick
  • Parliament
  • Place de la Bourse
  • Southeast Europe
  • Sustainable Perspective
  • The American Angle
  • The Macro-Economist
  • Uncategorised
  • US Elections
  • World

More info

  • About Us
  • Advertising
  • Cookies Policy
  • Contact Us
  • FAQ
  • Jobs

Brussels Morning Newspaper - All Rights Reserved © 2020

No Result
View All Result
  • Home
  • About Us
  • EU Institutions
    • Parliament
    • Commission
    • Council
  • Europe
  • World
  • Member States
  • Economy
  • Culture and Society
  • In Depth
    • Ambassador’s Corner
    • Europe With Transparency
    • Place de la Bourse
    • The Macro-Economist
    • Sustainable Perspective
    • The American Angle
    • Southeast Europe
  • Print Magazine

Brussels Morning Newspaper - All Rights Reserved © 2020

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT