Tusk calms down on the EU’s multi-annual budget

“The proposal of the Finnish presidency regarding the EU budget for 2021-2027 assumes a reduction in the total amount of expenditure, but many countries are against it, and for now no decisive decisions will be taken,” emphasized Donald Tusk, the head of the European Council.

Finland’s proposal assumes that the level of expenditure will be from 1.03 percent. up to 1.08 percent of Gross National Income (GNI) of 27 Member States. In the worst-case scenario, this would mean €85 billion less than the European Commission proposal, which foresees a spending limit of 1.14 percent of GNI. In turn, the European Parliament is demanding a significantly higher budget of 1.3 percent of GNI.

“I can calm you down initially. This proposal is a starting point for discussion and many countries, as well as institutions, have fundamental reservations. The EC announced that it would strongly urge a more generous budget,” Tusk said.

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