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Greece, Poland benefit most from EU budget-report
2009-09-22 10:03:35 GMT (Reuters)
http://www.forexpros.com/news/interest-rates-news/greece,-poland-benefit-most-from-eu-budget-report-88669
2009-09-22 10:03:35 GMT (Reuters)
BRUSSELS, Sept 22 (Reuters) - Greece and Poland emerged as the biggest beneficiaries of the European Union's budget last year while Germany was the main paymaster, a report from the bloc's executive arm showed on Tuesday.
It said Greece received 6.3 billion euros ($9.2 billion) -- or 2.7 percent of its economic output -- more from the EU than it paid in membership dues, for farm aid and projects such as motorway construction and cleaning up the environment.
Poland came second with a net benefit of 4.4 billion euros, or 1.3 percent of its output.
The European Commission's report confirmed that Germany does the most among the EU's 27 member states to finance the bloc, with its net contribution at 8.8 billion euros in 2008. Other paymasters included Austria, Britain, Italy, France, the Netherlands and Sweden, all of which are expected to argue for a lean EU budget during negotiations due to start next year on its overhaul.
Net beneficiaries included Portugal, Spain and 12 mostly ex-communist countries that joined the EU in 2004 or 2007.
Spain continued to receive lower net benefits as it becomes richer and qualifies for less aid. It took in 2.8 billion euros in 2008, compared with 8.5 billion in 2004.
In general, about 40 percent of last year's 116.5 billion euro budget was spent on measures creating jobs, building infrastructure and increasing economic competitiveness. Farm subsidies accounted for 37 percent of EU spending.
EU Budget Commissioner Algirdas Semeta said in a statement that "2008's top spending areas in research, innovation and training for people to join the workforce are helping Europe move towards recovery".
The EU will launch negotiations next year on a major overhaul of its budget, with countries such as Britain and Sweden expected to call for slashing farm subsidies and France set to defend them.
Britain is certain to face calls to abandon its rebate from EU coffers, while poorer member states will fight to preserve the bloc's regional development funds. (Reporting by Marcin Grajewski; Editing by Dale Hudson)
It said Greece received 6.3 billion euros ($9.2 billion) -- or 2.7 percent of its economic output -- more from the EU than it paid in membership dues, for farm aid and projects such as motorway construction and cleaning up the environment.
Poland came second with a net benefit of 4.4 billion euros, or 1.3 percent of its output.
The European Commission's report confirmed that Germany does the most among the EU's 27 member states to finance the bloc, with its net contribution at 8.8 billion euros in 2008. Other paymasters included Austria, Britain, Italy, France, the Netherlands and Sweden, all of which are expected to argue for a lean EU budget during negotiations due to start next year on its overhaul.
Net beneficiaries included Portugal, Spain and 12 mostly ex-communist countries that joined the EU in 2004 or 2007.
Spain continued to receive lower net benefits as it becomes richer and qualifies for less aid. It took in 2.8 billion euros in 2008, compared with 8.5 billion in 2004.
In general, about 40 percent of last year's 116.5 billion euro budget was spent on measures creating jobs, building infrastructure and increasing economic competitiveness. Farm subsidies accounted for 37 percent of EU spending.
EU Budget Commissioner Algirdas Semeta said in a statement that "2008's top spending areas in research, innovation and training for people to join the workforce are helping Europe move towards recovery".
The EU will launch negotiations next year on a major overhaul of its budget, with countries such as Britain and Sweden expected to call for slashing farm subsidies and France set to defend them.
Britain is certain to face calls to abandon its rebate from EU coffers, while poorer member states will fight to preserve the bloc's regional development funds. (Reporting by Marcin Grajewski; Editing by Dale Hudson)
http://www.forexpros.com/news/interest-rates-news/greece,-poland-benefit-most-from-eu-budget-report-88669
