Following the longest and most intense negotiations related to the EU budget to-date, Malta has negotiated a package worth €2.250 billion for the coming seven years.
The package includes €1.923 billion from the EU’s budget (core Multi-Annual Financial Framework), as well as €327 million from the grants of the newly established Recovery Instrument, known as Next Generation EU.
The financial allocation is even more relevant in the context of the withdrawal of the United Kingdom from the European Union after almost 50 years of membership. The withdrawal is estimated to cost around €75 billion during the next seven years.
One must also take into account Malta recent economic growth when compared to the EU average, a statistic that would have normally significantly limited budget allocation.
The Maltese Government has decided that a minimum of 10% of the allocation under Cohesion Policy and Agriculture will be earmarked for Gozo. This will ensure that Gozo receives more funds overall than it currently has ringfenced under the 2014-2020 financing period.
For more information on Malta’s fund allocation please click here.« Back