FT: EU debt to rise to €900bn in three years
The European Union’s debt pile is set to reach €900bn by late 2026 as the bloc borrows to fund coronavirus recovery programmes and support for Ukraine, TASS reports
The EU believes that Brussels has rapidly become a ‘real player’ on debt markets in a short time. Now the debt has reached €450bn – 9 times more than in 2020. In three years, the figure will reach €900bn. That stock of debt requires refinancing.
“The bloc’s own bond issuance began to grow rapidly after member countries reached a historic 2020 agreement on common debt issuance for its NextGenerationEU programme, running until 2027,” the publication says.
The European Recovery and Resilience Facility (RRF) aims to support economic recovery from the impact of the pandemic and support the green and digital transition in Europe. The project is set to cost €800bn.
