Germany provided more than 25 billion euros as its share of the EU’s annual budget last year, a new record.
According to data collected by German news agency DPA, Germany, the EU’s most populous country and one of the world’s largest economies, has budgeted for the 2021 EU budget. I provided a total of 25.1 billion euros. These amounts are equivalent to 26.7 billion US dollars.
How much did France and Italy provide?
Earlier, Germany’s contribution to the Union’s annual budget in 2020 was 19.4 billion euros. This means that last year Germany paid about five and a half billion euros more in this regard than the year before.
In contrast, France’s share of the EU budget in 2021 was 12.4 billion euros, less than half of the amount provided by Germany. France is the second largest member of the European Union in terms of population.
Italy, the union’s third-largest country by population, paid just 3.2 billion euros to the bloc’s annual budget in 2021. It also means that Italy’s share of the Union’s annual spending last year was less than 15 percent of Germany’s share.
Which countries received the most money?
In the EU budget, since the financial resources paid by all member states are distributed or spent within the same member states, it also happens that if a country provides too much funds, someone else gets too much money. are
According to DPA data, the country that received the most financial resources compared to its disbursed funds in 2021 was Poland. Poland was then paid 11.8 billion euros more than its share, due to various Union-approved projects underway there.
The second largest gainer, based on the difference between payments and receipts, went to Greece, which received 4.5 billion euros more than its share paid. Similarly, Hungary also got financial benefit of 4.1 billion euros and Romania also about 4 billion euros.
Fiscal implications of Brexit
There are also many EU member countries, which are already very developed and receive less money from the EU budget for various development projects than they pay for their share. These countries are called net contributor states of this bloc.
During negotiations for the EU’s financial framework from 2021 to 2027, Germany and other rich countries agreed to increase their contributions to the EU budget during this period.
The purpose of the increase was to make up for the shortfall in payments that the UK used to make and which have stopped since the UK left the Union or Brexit.