Insiders: German Finance Minister will call on the European Union to adopt a "Europe first procurement" strategy.

Sources said that German Finance Minister Olaf Scholz will call for a more "modernized" EU budget on Wednesday, which will channel funds into improving cross-border railway and road transport networks, energy infrastructure, external border security, and research fields. Sources also said that Scholz will push for a six-point plan aimed at revitalizing the EU economy, including implementing a "European preference procurement" strategy in key areas such as advanced semiconductors, as well as creating a single defense market and advancing joint defense projects.