12:35 - 27.10.2026

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October 27, Fineko/abc.az. The total debt of the European Union as an organization is projected to hit €1 trillion by 2027.

Speaking to the Rapporteur portal, Tony Murphy, President of the European Court of Auditors, stated that the European Commission plans to allocate 8% of the EU's next seven-year budget solely toward servicing this debt. The surge in collective debt is primarily driven by the €750 billion COVID-19 post-pandemic recovery fund, which was initially designed to boost economic growth over a five-year period.