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7/1, 7:47 AM (Source: TeleTrader)
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Maas: EU recovery fund expected in July

German Minister of Foreign Affairs Heiko Maas said on Wednesday he hoped the agreement on the European Union's recovery fund will be reached in July as Germany takes over the presidency of the European Council.

Earlier this month, the minister stated the EU was a "long way" from agreeing on the €750 billion aid package.

The first meeting of the bloc's member states regarding the fund was held on June 19, with a "positive" outcome, according to the European Commission President Ursula von der Leyen. In the meantime, the EU presented a €166.7 billion budget draft for next year.

Breaking the News / JR