Portugal to pay two billion a year to the EU

  • ECO News
  • 6 November 2019

Portugal shall contribute annually with 2.01 billion euros, corresponding to 0.98% of Gross National Income. This is an increase on the current 1.69 billion euros.

Portugal will contribute more to the next multiannual financial framework 2021-2027. The scenario proposed by the European Commission foresees a slight increase in national transfers to the Community coffers, to be set at an annual average of 2.01 billion euros.

These 2.01 billion euros correspond to 0.98% of Gross National Income, an increase on the current 1.69 billion euros that is partly due to inflation and growth in the country, but also to the need to offset the loss of contributions from the United Kingdom and the financing of new policies, says the Público newspaper.

The Prime Minister António Costa admits to contributing even more, in order to alleviate the cut in the Structural Funds envelope for Portugal, which is expected to fall by 7% to a total of 373 billion euros.

At the end of the meeting of the “Friends of Cohesion” Member States in Prague, the Prime Minister considered that the contribution of 1.16% of gross national income “is a reasonable proposal”, which is at an “intermediate” point between the proposals of the European Parliament and the Council.

Costa criticised the Finnish Presidency’s proposal for the post-2020 EU budget, saying that it has no foundation. “The Finnish proposal is unacceptable. The Finnish proposal has no foundation. There is no point in wasting too much time on this discussion,” he concluded.