Brexit to cost the EU 14 billion EUR each year

Baku. 19 December. REPORT.AZ/ The total budget of the European Union (EU) to lose 14 billion EUR annually due to Brexit. 

Report informs citing the Vestifinance.ru, the EU Budget Commissioner Günther Oettinger said at a conference in Brussels.

Notably, although Britain would quit EU in March 2019, authorities announced that the country will fulfill its commitment to the EU until 2020. Thus, the annual budget of the EU is an integral part of long-term financial plans and the last time the plan has been calculated until 2020.

Etingen noted that due to the funds lost by the EU, there may be problems with planning of the next 10-year budget: "Britain is the second largest member of the EU budget, and it is separated. 50% of the "hole" in the budget will be funded through additional payments from 27 EU members. The remaining 50% or 7 billion EUR ($ 8.25 billion) will form as a result of budget cuts”.

Notably, according to The Independent, if the Brexit vote was to be held now, 51% of the British citizens would want to stay in the EU.