Brexit to reduce 20 billion euro of European Union budget

EU Budget Commissioner Guenther Oettinger said Wednesday that Brexit could leave the remaining EU countries with a 20-billion-euro hole in their budget.

He said they will have a short fall of of 10 to 11 billion euros a year. At the same time they will have higher costs for defense and internal security. The shortfall could be even greater. Oettinger called on the EU to improve the efficiency of its spending in the wake of Brexit in March, 2019.

Source: VOV5