The leaders of the European Union country have finally come to an agreement on the budget for 2021-2027 and economic recovery after the pandemic.
This was announced on Twitter by the President of the European Council Charles Michel.
The summit participants agreed on a compromise version of the EU’s seven-year budget plan in the amount of € 1.074 trillion and the amount of extra-budgetary funding of € 750 billion.
Finance is going to be attracted in the form of loans, which will need to be repaid by the end of 2058.