Belgium (Brussels Morning Newspaper) The EU says it will “assess” further support for Ukraine after tabling its budget plans for the next year. This comes after the Commission on Wednesday proposed an annual EU budget of €189.3 billion for 2024.
The budget will be complemented by an estimated €113 billion in payments for grants under NextGenerationEU, the EU’s post-pandemic recovery instrument. Their combined firepower will keep driving Europe’s ongoing economic recovery and create jobs while strengthening Europe’s strategic autonomy.
The EC says the EU faced exceptional challenges in the last years, including fast-rising inflation, which put considerable pressure on the ability of the budget to further respond to new developments.
Nevertheless, the draft budget for 2024 continues to provide key funding to the EU’s political priorities as planned. Green and digital spending will continue to be prioritized to make Europe more resilient and fit for the future.
Commenting, EU commissioner Johannes Hahn, responsible for the EU Budget, said: “The EU budget continues to provide Europe with the means to tackle current and future challenges. Yet, the EU budget, like national budgets, is facing constraints due to rising costs while the financing needs are not decreasing. The 2024 EU budget has been tailored to keep supporting the green and digital transition of the Union and remains one of the most powerful tools delivering added value to people’s lives.”
The EC says the draft budget 2024 directs funds to where they can make the greatest difference, in line with the most crucial recovery needs of the EU Member States and our partners around the world.
A source said, “The funding will help modernize and strengthen our Union, by fostering the green and digital transitions, creating jobs, and strengthening Europe’s role in the world.
“The Commission will continue to stand by Ukraine for as long as it takes. Following Russia’s war of aggression against the country, the EU budget has been fully mobilized to support Ukraine, and EU Member States welcoming refugees, however, its availabilities have been exhausted. The Commission will assess future support to Ukraine in the context of the forthcoming review of its long-term budget 2021-2027.”