EU Audit Reveals Rising Errors in Fund Allocation
The European Court of Auditors reports a significant increase in misallocation of EU funds, raising concerns over financial oversight and public trust.
- The European Court of Auditors found a 5.6% error rate in EU fund allocation for 2023, up from 4.2% the previous year.
- Errors were most prevalent in regional funding and coronavirus relief, with a third of the latter not meeting guidelines.
- The report highlights systemic issues in member states' reporting reliability and oversight mechanisms.
- Financial risks are exacerbated by record-high EU debt, largely due to pandemic recovery loans and aid to Ukraine.
- Calls for stronger anti-fraud measures and clearer funding rules have intensified in response to the audit's findings.
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