European Union Finland was to receive EUR 3.2 billion from the EU recovery package, but according to a recent estimate, half a billion euros less is coming

The decrease is due to the fact that the Finnish economy has suffered less than previously expected from the coronavirus pandemic. The ministerial working group now has to adjust the plan for the use of grant funds.

Finland estimated receivables from the EU recovery package fell again, the ministry of finance says. Last summer, the Commission estimates that Finland will receive about EUR 3.2 billion in grants from the recovery package, but the Commission’s recent estimate is about half a billion euros lower.

Estimate of Finland’s receivables decreased in the fall about EUR 200 million, and in the new estimate it decreased by more than EUR 300 million.

Finland’s estimated contribution to the recovery package is still around EUR 6.6 billion. Finland’s net contribution is therefore expected to increase from the initial estimate.

Finland According to a recent estimate, the new Recovery and Recovery Instrument in the package will provide around € 2 billion in grants, says the Financial Adviser. Laura Vartia from the Ministry of Finance. Back in the autumn, the estimate was 2.3 billion euros.

According to Vartia, Finland’s estimated share of grants has decreased since the autumn, as Finland’s economic growth seems to have suffered less than expected during the coronavirus pandemic. The size of the economic shock is one of the allocation criteria that will determine the share of aid that each EU country will receive in the coming years.

In addition to grants from the Recovery and Recovery Facility, Finland will also receive money from the recovery package to existing funds. Finland is receiving an additional EUR 700 million from these funds. According to the current estimate, Finland’s share of the grants is a total of about EUR 2.7 billion.

Finland the amount of final receivables will not be known until the summer of 2022. It may therefore still decrease or increase, depending on, for example, economic developments.

Politicians still have to react to the reduction in the estimated amount of aid already now. The Treasury minister Matti Vanhanen On Tuesday, a ministerial working group led by (Central) began discussing Finland’s plan for the use of recovery funds. Finland is due to submit the preliminary plan to the Commission in mid-February and the final plan is due to be submitted to the Commission at the end of April.

Government in the fall doing the report has granulated money for various uses on the basis that the money coming from the recovery and recovery facility would be around € 2.1-3.1 billion. As the new assessment states that Finland’s grants would be below the lower limit of the fork, the Ministerial Working Group will now have to adjust the planned uses.

In the report, the main priorities for grants are the green transition, with € 0.9-1.2 billion, and education, research and innovation, with € 0.4-0.5 billion.

HS said on Tuesdaythat lobbyists have been seeking money from the stimulus package for their own backgrounds since the summer. According to Minister of Finance Vanhanen, the exact uses of the money are not yet known.

“I’m not going to tell individual items yet. They have not been agreed or decided at any level, ”Vanhanen said at the press conference after Tuesday’s meeting.


Related Posts

Premium Content