June 25, 2024

The Lithuanian 2024 annual budget plans to include support for Ukraine in the amount of EUR 340 million.

Source: Ingrida Šimonytė, Lithuanian Prime Minister, said this in an interview with BNS, as reported by LRT

Details: The official said that in the coming years, Vilnius will need funds not only to support the refugees of the war, but also to continue supporting Kyiv if the EU countries do not agree on a EUR 50 billion package of assistance to Ukraine.

Quote: “We will provide Ukraine with a total of about 0.4 percent of [our] GDP, which is about EUR 340 million,” said Šimonytė.

The Lithuanian government will consider the draft budget for 2024 on Thursday 5 October.

Earlier it was reported that Hungary proposed splitting in two the European Union’s upcoming EUR 50 billion aid package for Ukraine, raising concerns about reduced economic support for Kyiv.

The European Commission is preparing to allocate billions of euros to Hungary from EU funds, which are currently frozen due to problems with the rule of law in the country, to ensure Budapest’s support in increasing the EU budget and providing significant financial assistance to Ukraine. This was reported earlier by Financial Times.

The importance of the discussions about EU funding has increased since the US deal on Sunday to avert a government shutdown that excluded $6 billion in aid to Kyiv.

The €50 billion programme for Ukraine is part of the EU’s long-term budget review, which also provides for additional funding for migration and the latest technologies for a total of €66 billion.

The European Commission hoped to sign an agreement on the budget by the end of the year. But disagreements about its overall review have undermined efforts to reach a timely decision.

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