EU member states reported approximately pound 228 billion state aid expenditures in 2022: State Aid Scoreboard

BRUSSELS: The European Commission published the 2023 State Aid Scoreboard relating to the state aid expenditure in 2022. It provides a comprehensive overview of state aid expenditure in the EU based on the reports provided by the Member States. The 2023 edition showed that, despite a strong reduction in state aid expenditure in 2022 compared to 2021, Member States continued to support companies affected by crises such as the coronavirus pandemic.

In 2022, Member States reported approximately pound 228 billion in state aid expenditures for all objectives, including crisis measures relating to the coronavirus pandemic and the crisis in Ukraine and all other measures. This corresponds to 1.4 percent of the 2022 EU GDP and represents a 34.8 percent reduction compared to 2021, when expenditures reached pound 349.7 billion.

The results showed that 33.6 percent of this support (pound 76.65 billion) helped companies affected by the coronavirus pandemic to remain viable, while 17 percent (pound 39.33 billion) corres
ponded to measures adopted to counterbalance the fallout of the Ukraine crisis.

Executive Vice-President Margrethe Vestager, in charge of competition policy, said, ‘The State Aid Scoreboard published today shows that in 2022, Member States continued to support businesses hit by the pandemic crisis and to swiftly address the negative consequences of the crisis in Ukraine. Beyond crisis aid that still represents half of the support provided, data demonstrates that state aid rules also respond to global competitiveness challenges and support the green transition.’

Source: Emirates News Agency