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PM de Croo: "Belgium will do everything in its power to preserve European recovery funds"

PM de Croo: “Belgium will do everything in its power to preserve European recovery funds”

Alexandre de Crooze © BELGA

Belgium will do everything in its power to raise all the funds expected to relaunch Europe. Prime Minister Alexandre de Croo said this in the Chamber of Deputies on Tuesday.

GVsource: Belgian

De Croo discussed in the Federal Advisory Committee on European Affairs the European Union summit next Thursday and several other European files. Among other things, the news that our country could receive less refund money than planned was discussed. Belgium can count on just over 5.9 billion euros from the Coronavirus Recovery Fund, or more specifically the Recovery and Resilience Facility (RRF), but according to Foreign Minister Eva de Bleecker (Open Vld) it could be less than 1.35 billion euros. The reason is economic growth which is stronger than expected.

Not yet an established result

Like De Bleeker, House of Representatives De Croo noted that the amount has yet to be definitively determined. It won’t happen until June 2022. “We will do everything in our power to maintain the situation,” De Croo said. “It is not a foregone conclusion for the European Commission that changes will be made. Talks are still ongoing.”

Inquiries show that the committee and member states are studying the exact implications of any potential amendment. The central question is what to do with the recovery plans of the countries concerned. What projects will fail and which reforms will be halted? It also remains to be decided whether the unearmarked funds will be distributed among other member states or whether the Commission will borrow less money from the financial markets. “All this needs to be clarified,” he said in the vicinity of Schumann Plain.

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