International Round-Up: Businesses expect Denmark to benefit from EU budget

Business leaders believe Denmark will benefit from the new EU budget’s focus on green transformation, digitisation and research

The EU’s coronavirus recovery fund focuses on green tranformation and digitisation in helping EU members restart their economies (photo: Pixabay/Free-Photos)
July 23rd, 2020 8:48 am| by Gulden Timur
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The business industry has welcomed the EU agreement regarding a seven-year budget and a coronavirus recovery fund, saying both have a clear focus on green investments that will benefit Denmark. 

“When things are going well for Europe, things are also going well for Denmark and the Danish companies. Now it is a matter of getting the recovery fund into play as soon as possible, so that we can get growth and exports going,” said Thomas Bustrup, international director of Dansk Industri. 

Investments in green transformation, digitisation and research are meant to ensure that the EU economy not only returns to normal levels, but also becomes more competitive in the long run. 

Implementing reforms
The recovery fund offers loans and grants to EU countries hit hardest by the coronavirus pandemic. 

“Despite the acute crisis, it is important for the EU to ensure that Member States implement growth-enhancing reforms of the labor market, the education sector and the public sector. It is absolutely crucial for the EU’s competitiveness and resilience to future crises that greater room for maneuver is created in the economy,” said Bustrup.

The European Parliament is expected to launch negotiations in autumn to approve the budget. Following this, the Council of Ministers must decide on an adopted version so that the recovery fund and the new budget can enter into force on January 1, 2021.


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