MADRID – In 2022, Spain achieved a positive balance in its financial relations with the European Union (EU). This is evident from the report from the Ministry of Finance.
According to the Council of the EU Decision 2020/2053, Member States finance the EU budget with their own resources. In turn, they receive funding through various European policies. The difference between what a country contributes and what it receives is called its ‘financial balance’. This balance is an important indicator of the EU’s net impact on the economies of its Member States.
Positive financial balance for Spain
Spain received €454.4 million more from the EU than it contributed. This is an important financial boost for the country, especially at a time when economic stability is essential. Spain is among the 18 EU Member States that receive more than they contribute. The country contributed €13.8 billion, but received €14.2 million from the Union. Poland, Romania and Hungary receive even more in proportion to their contributions.
At the other end of the spectrum, according to fact-check website Newtral, are countries such as Germany, France and the Netherlands, which contribute more money to Europe than they receive.
What does this mean for Spain?
This positive balance is a sign of the benefits Spain enjoys as a member of the EU. The additional money can be used for various projects and initiatives that strengthen the national economy. Moreover, it shows that Spain is making effective use of European resources, which is crucial for the country’s economic growth and stability.
The future of EU financing
This financial gain for Spain underlines the importance of the EU in supporting the economies of its member states. It is a clear example of how money from Europe can help stimulate national economies, especially in times of economic uncertainty. It also shows how important it is for Member States to actively participate in EU policies and programs to achieve maximum benefits.
Also read: Spain will receive almost 8 billion euros extra from the European Recovery Fund
