Germany’s contribution to the EU budget will increase in the coming years
Germany’s contribution to the European Union’s budget would rise by 42% or 13 billion Euros ($14.63 billion) annually in the coming years, the German national daily newspaper Die Welt reported on Monday.
Government calculations were based on the proposals for the European Union’s long-term budget.
The finance ministry in Berlin estimated that Germany’s annual payments to Brussels would rise by an average of 13 billion Euros ($14.6 billion) from 2021. Its contribution has averaged 31 billion Euros per year recently.
According to the current proposal from the European Union Commission, each member states should pay around 1.075% of their gross domestic product (GDP) as a contribution over the next seven years. Calculations were made based on their 2018 GDP, meaning a total volume of 1.1 trillion Euros.
EU leaders would have an online meeting on Friday to talk about the EU’s long-term budget, which is called the Multiannual Financial Framework (MFF), and the planned coronavirus recovery fund.