T. Valys ahead of the Eurogroup meeting: more funding for defence and Ukraine needed
Before the start of the Eurogroup meeting, Minister of Finance Taurimas Valys, speaking to the media, stressed the need to strengthen European Union (EU) defence funding, ensure long-term support for Ukraine and increase the competitiveness of the European economy. The Minister stressed that these are among the most important issues in the negotiations on the future EU Multiannual Financial Framework (MFF) for 2028-2034.
"As you are aware, Lithuania devotes the largest share of GDP to defence among the eastern NATO countries, so we will strive to maximise defence spending in the next EU Multiannual Financial Framework. It is equally important to ensure support for Ukraine, which needs additional funding. During the Lithuanian Presidency of the Council of the EU, our main priorities will remain resilience, defence and security," Taurimas Valys told journalists gathered in Brussels.
According to the Minister, in the negotiations on the future EU budget, it is necessary to properly assess the changed European security environment and ensure sufficient financial resources to strengthen defence capabilities.
Ahead of the Eurogroup meeting, the Minister also drew attention to the challenges posed by rising energy prices, inflation and the fiscal situation. According to him, these factors have a direct impact on the competitiveness of the European economy, so it is necessary to look for solutions that help to balance economic stability with growing financing needs.
For further details, please check the Council of Europe website.