12/4, 2:12 PM (Source: TeleTrader)
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EU budget proposal worries Von der Leyen

Budget cuts in the European Union are worrying, new European Commission President Ursula von der Leyen stated on Wednesday. She noted that the latest proposal by Finland for the 2021-2027 budget incorporates "severe cuts."

Helsinki, which is presiding over the Council European Union until the end of the year, suggested capping the EU budget at €1.087 billion euros or 1.07% of the EU27's combined gross national income (GNI). Finland also proposed larger funds for traditional sectors like agriculture and regional development than the European Commission deemed necessary. Furthermore, Finland praise the new budget proposal as "modern" as it entails a rise in digitalization funding.

Earlier, the European Commission said that it believes the budget should be set at 1.11% of GNI while the European Parliament sought to increase the budget to 1.3% of GNI.

Breaking the News / VP