Prime Minister Ratas: Estonia did unexpectedly well at the EU budget negotiations
Brussels, Belgium 21 July 2020 – according to Prime Minister Jüri Ratas, the heads of state and government of the European Union reached a historic agreement on the next long-term budget for 2021–2027 and the economic recovery plan on the fifth day of negotiations. The budget and recovery measures will help to revive the European economy after the pandemic, strengthen the common internal market, increase competitiveness, create jobs, respond to climate change, and speed up the implementation of digital technology in a total amount of 1.824 trillion euros.
According to Prime Minister Jüri Ratas, the economic decline caused by the COVID-19 pandemic along with increased unemployment are an unexpected challenge for the people, companies, as well as Member States of the EU. “Unfortunately, the crisis is far from over and the whole world is unsure of how complicated our economic situation will turn out to be in the coming months and the near future,” said Ratas. “Therefore, the agreement reached in the Council is an excellent and necessary one for security and well-being in Estonia and Europe as a whole. It also shows that we can rely on Europe when times are tough,” Ratas emphasised. “This decision is also a clear sign of solidarity and caring, as countries who are in a more difficult financial situation or less wealthy will receive more support from the budget as well as the temporary recovery plan. The openness and successful functioning of the internal market and the economic recovery of all Member States is in all of our best interests,” said the prime minister, adding that after reaching an agreement on the numbers, it is now time to actually implement the created plans. The agreement is also a strong positive message for the global markets.
“I am most satisfied about the fact that Europe reacts forcefully and has managed to find a quick solution. For Estonia, the budget discussions were a success and we can be satisfied with the agreement we reached,” Ratas emphasised. “We can quickly make the required large investments and carry out the reforms needed to restart the economy. This means creating a sense of security for our companies, but also actual contributions to creating jobs and boosting the economy,” the prime minister said.