EU seeks to mitigate economic consequences of war in Ukraine • FRANCE 24 English

A lack of gas and cheap Russian Goods has seen energy food and transport prices sore across the European Union after reaching 10% in November 2022 the annual inflation rate of the EU dropped to 3.1% by the end of 2023 and in a bid to restore hope and purchasing power for Europeans the

Commission decided to Fork out 440 billion EUR from its cohesion funds member states now have the right to use up to 10% of the funds allocated to them through the national cohesion policy to help families and small businesses in need in 2023 for example the Paris

Region used 45 million EUR from its ESF plus to finance energy costs 160,000 households received a check of €250 to pay their electricity Bills in Romania the erf helped renovate a hospital reducing its energy bills by up to 40% on top of inflation further economic woes may come as the EU has agreed to open membership talks with Ukraine according to a recent study if Ukraine were to join the EU it would receive

13.2 billion euros in European funds every year but as a country at War Ukraine wouldn’t be able to contribute much to the EU budget that means it would receive 11.4 billion EUR more than it can afford to pay in most of the money would come from the common agricultural policy and the cohesion

Policy some fear unfair competition with this agricultural Nation but the concerns come all too soon as an enlargement with the country at war is complex and won’t happen anytime soon

Since February 24, 2022, Russia’s full-scale invasion has had a huge impact on Ukraine, but also the European Union. To tackle inflation and other economic consequences, the EU has taken measures to try to shield its inhabitants from the cost-of-living crisis. We take a closer look. 

Read more about this story in our article: https://f24.my/A9Dz.y

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