Brexit aid: Germany receives about 647 million euros in compensation

Brexit aid: Germany receives about 647 million euros in compensation

Germany is expected to receive 7 647 million from EU funds to mitigate the effects of Brexit.

BRUSSELS – The so-called Brexit fund and the temporary disbursement of funds were finally decided on Tuesday, as announced by the European Union Council in Brussels. It will now support public and private companies that face additional costs, losses or other adverse economic and social consequences following the UK’s exit from the European Union. Customs controls and new administrative procedures, for example, may incur additional costs. In Germany, among other things, the money will benefit fishermen who depend on fishing in British waters. For example, funding may be provided for short-term job benefits, retraining or retraining. “Our goal is to help those who are having the most difficult time coping with the aftermath of Brexit,” Zvonko Černač said for the current Slovenian presidency.

A total of 47 5.47 billion will be disbursed through the Brexit Fund. After the index, the largest amount will go to Ireland, France and the Netherlands. About 2 1.2 billion is expected to flow to Ireland, 6 886 million to the Netherlands and 6 736 million to France. This is followed by Germany, which has been badly affected by Brexit. However, the most important thing is that Germany is likely to pay a considerable amount more than it receives from the Brexit fund. The German share of the fund in the next EU budget is estimated at about 24 percent. However, 64 647 million is only about 12 percent of the Brexit fund, which fills the budget. (dpa)

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