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Financing the EU's recovery: Increased budget ceiling and (new) EU revenues
EUR 1.82 trillion financial package – an overhaul of the EU's funding. The EUR 750 bn recovery package agreed upon by EU leaders two weeks ago will be financed through EU borrowing while the EUR 1,074 bn budget for the next seven years mainly depends on payments by EU members. EU budget mainly financed through members' direct contributions. The EU’s EUR 1 trillion Multiannual Financial Framework (MFF) will continue to be primarily financed through the EU’s own resources, with the lion’s share stemming from members’ contributions based on their relative Gross National Income (GNI). Increased own resource ... (full story)