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Ursula von der Leyen, President of the EC. Photo by Johanna Geron (Reuters / Scanpix)
The European Commission proposed on Wednesday 750 billion euros to revive the economy affected by the pandemic. EUR. This amount would be distributed to the EU Member States in a mixed way, both in the form of grants and loans. Lithuania could claim 6.3 billion. Eur from the emerging European Recovery Fund.
Additions throughout the text added support for Lithuania.
The EC’s proposed support to Lithuania was approved by Virginijus Sinkevičius, the Lithuanian Commissioner for the Environment.
“Lithuania will be offered 6.3 billion of the new fund. EUR. Of this, 3.9 billion. EUR – grants, and 2.4 billion. Eur – loans. These are additional funds in addition to the multi-year financial perspective,” V. Sinkevičius told BNS on Wednesday.
According to the Commissioner, if the Member States agree, Lithuania will benefit from this fund and from the EU budget in 2021-2027. in total it can receive more than 17.7 billion. EU support in euros, including possible loans, or € 15.3 billion. Eur without loans.
“The grants will be distributed among the parties according to an established formula. These are new grants that have nothing to do with previous debts,” said Ursula von der Leyen, President of the European Commission, introducing the EC plan in an extraordinary plenary session of the European Parliament (EP) on Wednesday.
The EC proposes to finance the proposed fund through loans on behalf of the EU in markets of up to 750 billion. EUR.
“One of the problems caused by the pandemic will not be solved by one country. This is a historic moment for the EU. The burden on everyone needs to be balanced. We have two options: either we act alone, leaving something aside, or We go together. My choice is simple. I want us to be on the road to recovery together. Those who fear further investment should know that we will pay double the price in the future, “said von der Leyen.
The EC President added that all measures must be in line with the EC’s long-term goal of 2050. To become a climate neutral economy.
The economic recovery plan presented by the EC exceeds the joint offer by Germany and France to borrow around € 500 billion on behalf of the EU in the markets. Eur and distribute them in the form of grants to members most affected by the pandemic. In addition to this money, the EC also offered to borrow another 250 billion. Euros, but this money would be distributed to EU members in the form of loans.
Market loan The EC proposes that Member States do not increase their contribution to the budget during the crisis, and that the money is expected to be repaid in a few decades not before 2028 and not later than 2058. VŽ has already written that revenue from debt repayment can be raised through an agreement on a common plastics tax, revenue from the carbon trading system, or joint taxes from the digital sector.
“Although the virus has affected all EU member states in the same way, the damage caused to EU countries is different and the potential for economic recovery also seems uneven,” the EC said in a proposal. .
According to the EC, even though each country has supported its employees and companies, different EU Member States have different opportunities to do so.
“This creates the preconditions for an uneven recovery of the EU economies and unequal conditions of competition. Such conditions only show the need for a unified EC response,” states the EC proposal.
Although the fund is seen primarily as support for southern Europe, Lithuanian leaders and negotiators stressed yesterday that the new funds should be available to everyone.
“It is important to create a level playing field for all member states to use the financing opportunities provided by the European Recovery Fund in accordance with objective economic criteria,” President Gitanas Nausėda told BNS last week.
If Community members accepted the current EC proposal, Italy would receive € 82 billion over the next year. Spain would receive 77.3 billion euros in direct aid. Euros
Furthermore, loans would continue to be granted to the parties. Up to 91 billion 31 billion euros for Italy and 31 billion euros for Spain. euros
28.8 billion Germany would receive 38.8 billion euros in grants. EUR for France. According to Bloomberg estimates, Poland could receive 37.7 billion euros. subsidies in euros.
The benefits and loans offered to individual members of the EU would amount to more than € 650 billion. and another € 100 billion. they could be assigned to joint aid programs led by the EU, officials told AFP.
[infogram id=”03ff429e-930b-4665-a72c-6de4c314bc24″ prefix=”Ghv” format=”interactive” title=”ES ekonomikos atkūrimo fondo dotacijos”]These EC plans have yet to be approved by the European Parliament and Savings. Four of the 27 EU governments have so far been reluctant to accept the distribution of money borrowed from the EU in grants rather than loans. This is expected to be a hot topic of debate among EU Member States in the coming weeks. European Council President Charles Michel announced that EU leaders will discuss the plan at a summit on June 19.
Updated budget
The European Commission also presented on Wednesday 2021-2027. Draft updated budget. The EC will propose 1.1 trillion. Eur budget, according to the document received by VŽ. The Economic Recovery Fund will be complementary to the Multiannual Financial Framework (MFF).
This budget is only slightly lower than the one proposed by the EC in 2018. in May, but higher than the compromise plan proposed by Charles Michel, President of the European Council.
2018 The EC proposed 1,135 billion. The euro budget, or 1.11% of the EU’s gross national income. C. Michel proposed 1,095 billion. The euro budget, which at that time was equal to 1,074% of gross national income.
The EC predicts that by 2020 the EU economy will shrink by more than 7%.
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