CR to draw EUR 35.7 from EU budget after leaders reach deal

The Czech Republic will draw EUR 35.7 billion from the European Union budget in the next seven years, following agreement on a huge post-coronavirus recovery package. The figure was revealed by Czech Prime Minister Andrej Babiš after a fourth night of talks in Brussels. In addition the Czech Republic will be able to access up to EUR 15.4 billion in low-interest loans.

Mr. Babiš described the outcome of the EU summit as good for the Czech Republic. He said the flexibility of money transfers between different EU funds would increase compared to the current budget period and that this was crucial for the country.

The Czech Republic stands to receive nearly EUR 4 billion more between 2021 and 2027 than under the present seven-year budget.