Luxembourg's Ministry of Finance and the Ministry of Foreign and European Affairs have announced that the Grand Duchy will pay an additional €246.7 million retroactively into the European Union (EU) budget for the period from 2010 to 2020.
The respective ministries confirmed that the European Commission has just carried out its traditional regularisation of the national contributions of all Member States to the EU budget in terms of own resources based on gross national income (GNI) and value added tax (VAT). The objective of this annual exercise is to ensure fairness and equal treatment of Member States on the basis of up-to-date data reflecting the actual economic performance of each country.
For the purposes of this regularisation, the European Commission uses updated data supplied to it by the national statistical institutes in the autumn of each year. As part of this procedure, STATEC, Luxembourg's national institute of statistics, carried out an update of economic statistics in 2021, with the effect of an upward review of Luxembourg's GNI over the period 2010-20.
The result of this regularisation exercise is an additional contribution from Luxembourg for the period in question of €246.7 million to the EU budget.
