Macron: EU has doubled its budget for the next seven years




The EU has “effectively doubled its budget for the next seven years” — 2021-2027 — compared to the previous seven-year period of 2014-2020.




This was stated by French President Emmanuel Macron at a press conference following the EU summit. The total amount of the seven-year budget plan of the EU and the EU economic recovery Fund approved at the summit is €1.824 trillion, the seven-year budget for 2014-2020 is €959 billion.

Environmental project

Up to 30% of all EU budget spending in the next seven years will be reserved to support “climate-oriented projects,” Macron said.

“We have decided to allocate up to 30% of all funds for climate projects,” he said. The total amount of the seven-year budget plan of the EU and the EU economic recovery Fund approved at the summit is 1.824 trillion euros for 2021-2027.

EU leaders have agreed for the first time to place common EU-wide debt obligations to Finance economic recovery, the French President said.





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TAGS: EMMANUEL MACRON, EUROPE, EUROPEAN UNION

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