The royal family in Britain is losing millions of dollars

the royal family in Britain is facing millions of dollars in losses due to the consequences of the Coronavirus pandemic.

According to Arabiya Net, the financial losses of the British royal family are expected to be about 35 million pounds, or the equivalent of 44.5 million dollars, according to Michael Stevens, the official. On the finances of the royal family, it was reported by the US CNBC network.

It is expected that these losses will affect the government allocations that the family receives from the money of taxpayers in Britain at a time when the economy is suffering badly due to the consequences of the pandemic.

The allocations of the royal family in Britain include annual profits from the portfolio of real estate and mansions belonging to the family, whose profits are expected to decline sharply this year due to the consequences of the pandemic.

Stevens added that government allocations for the royal family in Britain cannot be reduced, but this means that they will be fixed for 2022/2023 at the level of 86 million pounds. The time now is 82.4 million pounds.

And due to the consequences of the pandemic, Stevens expected that the sums allocated to developing Buckingham Palace from the total government allocations for the family would decrease by about 20 million pounds. The allocations for the palace development project, which will take about 10 years, amount to 369 million pounds, which will be reduced to 349 million pounds.

The British royal family's revenues are also expected to suffer with a decline in the number of visitors wanting to see the royal family's holdings that are displayed in the number of royal palaces at a time when that revenue represents a share. Quite a bit from the government scholarship that the family gets.

Stevens continued that all these things will constitute an annual decline in revenues over the next three years by about 5 million pounds a year, equivalent to about 15 million pounds, in addition to a deficit Its amount is about 20 million pounds from the government grant.

He added, in the midst of these circumstances and challenges, we have no intention of requesting additional funding, but we will work to adapt our financial assets through self-efforts and in line with the current conditions they are going through. The country and the world at large in the midst of the Corona pandemic.

(Amazon fun knowledge)