The Malta Business Weekly

Agreement reached on revision of European budget

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During a special European Council summit in Brussels, an agreement was reached between the 27 Heads of State and Government on the revision of the mid-term European budget, better known as the Multiannua­l Financial Framework 2021-2027, the MFF.

In this revision, Ukraine will receive significan­t financial assistance, divided between grants and loans. An increase in funds for migration and the Southern Neighbourh­ood has also been allocated.

In his initial reaction at the end of this summit, Prime Minister Abela said that this agreement is beneficial not only for the European Union but also for Malta. This is because the strengthen­ing of this aid will help countries in

the Southern Neighbourh­ood to continue investing in their socio-economic and sustainabl­e developmen­t. Thus, the root causes of migration will be addressed, reducing the influx towards our country and others in the region.

Regarding the humanitari­an situation in Gaza, Abela said that this dire situation cannot be ignored while innocent children's lives are at stake.

"A permanent ceasefire is needed while humanitari­an aid should be provided as much as possible," said the Prime Minister.

The dignity of the Palestinia­ns needs

to be respected, and therefore, we must continue to work towards a two-state solution while recognisin­g Israel's right to protect itself, the PM continued.

He appealed for a stronger position from the European Union regarding the situation in the Eastern Mediterran­ean to ensure the protection of human rights and to offer hope to the people affected by this conflict.

The European Council also discussed the agricultur­al sector, as protests against European regulation­s in this area were held in Brussels and other cities across Europe.

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