European Commissioner Presents Mid-Term Review and Audit Plans to Slovenian Prime Minister

European Commissioner for Budget and Administration, Johannes Hahn, held a meeting with Slovenian Prime Minister Robert Golob to discuss the central reasons for the mid-term review and audit of the Multiannual Financial Framework. The meeting covered various crucial topics, including financial support for Ukraine, inflation’s impact on union expenditure, rising borrowing costs for recovery mechanisms, and the establishment of a European Sovereignty Fund for strategic investments in key technologies. The European Commission aims to leverage existing structures without affecting cohesion and agriculture resources. The meeting also emphasized the need for flexibility in policies, financial assistance, and the significance of the EU Greenhouse Gas Emissions Trading Scheme.

 Mid-Term Review Priorities and Challenges

During the meeting, several priorities and challenges for the mid-term review and audit of the Multiannual Financial Framework were discussed. The key areas of focus included:

Financial Support for Ukraine and Beyond: The Commissioner highlighted the necessity of providing additional funds to support Ukraine, addressing its current needs due to Russian aggression, and preparing for post-war reconstruction. The importance of balancing financial assistance to Ukraine with support for other Union partners, especially in the Western Balkans, was emphasized.

Inflation and Expenditure Impact: The rising costs of EU administration due to inflation were acknowledged as a challenge. The review aimed to address the implications of inflation on the Union’s expenditure and find sustainable solutions.

 Proposals and Perspectives

The meeting also explored various proposals and perspectives related to the mid-term review:

European Sovereignty Fund for Strategic Investments: The idea of establishing a European Sovereignty Fund was discussed, intending to finance investments in essential technologies to enhance the competitiveness and strategic independence of the European economy. Key areas of focus would include clean technologies, semiconductors, biotechnology, and more.

Flexibility in Implementation: The Slovenian Prime Minister and Finance Minister stressed the importance of greater flexibility in implementing cohesion policies, the Recovery and Resilience Fund, and the fiscal rules reintroduced in 2024. They sought the understanding and support of the European Commission to address the challenges faced by countries like Slovenia.