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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.
On Monday, Deutsche Bundesbank’s President Jens Weidmann said in a newspaper interview that Germany would toughen its auditing and accounting regulations to prevent another scam like the Wirecard scandal. Wirecard AG (WDI), a financial ...
The second quarter likely saw South Korea’s economy hitting its sharpest downturn in over two decades, a Reuters survey showed on Tuesday. This was mainly from the pandemic dragging the labor market, consumer spending, and global export ...
The Bank of Thailand chief on Monday said that it could take several years for the country’s foreign tourism industry to recover as the economy continues to take a beating from the COVID-19 pandemic. The central bank expects foreign ...
American multinational automaker Ford Motor Co. (F.N) announced on Thursday that its vehicle sales increased by 3% from April to June in mainland China. It would be the first time that the company's first quarterly sales rose in the world's ...
The European aviation Airbus (AIR.PA) announced on Monday that its airplane production and deliveries would be 40% lower for the next two years compared to its planned pre-crisis strategy. The CEO's comments underscore the threat to jobs as ...
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