The bloc’s chief auditor has warned that rising repayments and rushed spending are squeezing budgets and increasing fraud risks
The EU faces a growing budget squeeze after borrowing hundreds of billions for pandemic recovery and Ukraine. Rising repayment costs threaten future spending and rushed payouts raise fraud risks, its chief auditor has warned. Brussels is nevertheless seeking billions more for Kiev.
Speaking to Rapporteur, Tony Murphy, president of the European Court of Auditors, described the budget situation as a “pressure cooker,” with EU debt potentially reaching €1 trillion (1.12trillion)bytheendof2027.Thebloc’sdebtstoodat€739billion(825 billion) in 2025, up from €601 billion ($671 billion) a year earlier.
“You have to pay it back at some time. It’s not free money,” Murphy said. He emphasized that “it’s real money that has to be paid back.”
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