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Monday, 31 May 2021

President ratifies EU own funds

  |   President Andrzej Duda ratifies EU own funds President Andrzej Duda ratifies EU own funds President Andrzej Duda ratifies EU own funds President Andrzej Duda ratifies EU own funds President Andrzej Duda ratifies EU own funds President Andrzej Duda ratifies EU own funds President Andrzej Duda ratifies EU own funds President Andrzej Duda ratifies EU own funds

President Andrzej Duda has ratified an EU Council decision from December 14, 2020, to increase its own funds in the bloc's post-Covid recovery programme, the President's Office announced on Monday.

 

"This is a very important moment for the Republic of Poland, but also a very important moment for the entire EU, because today, by putting this signature (on the bill - PAP), the entire process of ratifying the EU Council's decision on own resources, the decision that ends the process of establishing the multiannual financial framework for 2021-27, has been completed," Andrzej Duda said during the ceremony at the Presidential Palace.

 

He added that the decision to increase own resources introduces into the system of EU law "something called an instrument for the reconstruction of the European Union".

 

"It will be an exceptional instrument, allowing the European Commission to borrow on capital markets around the world for the recovery of EU economies after all the problems caused by the economic crisis caused by the COVID-19 pandemic," Andrzej Duda said.

 

Andrzej Duda added that this is an extremely important instrument because it amounts to "an unimaginable amount of EUR 750 billion". He noted that Poland will be one of the largest beneficiaries of this plan.

(PAP)

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