The Commission has proposed an EU budget of €166.7 billion for 2021, to be complemented by €211 billion in grants and approximately €133 billion in loans under Next Generation EU, the temporary recovery instrument aimed at mobilising investments and kick-starting the European economy.
Together, the annual budget and Next Generation EU will mobilise significant investments in 2021 to address the immediate economic and social damage caused by the coronavirus pandemic, kick-start a sustainable recovery, and protect and create jobs. The budget is also fully in line with the commitment to invest in the future in order to achieve a greener, more digital, and resilient Europe.
Once adopted, this will be the first budget under the new 2021-2027 multiannual financial framework and the first annual budget proposed by President von der Leyen’s Commission.
Commissioner Johannes Hahn responsible for the EU Budget stated: “In these extraordinary times, the European Commission’s proposal mobilises unprecedented support. The annual budget 2021 will help hundreds of thousands of people, companies and regions to overcome the crisis and emerge stronger than before. To make it happen, we need an agreement on the long-term budget and Next Generation EU – a deal that will send a signal of confidence throughout Europe.”
The draft budget 2021, boosted by Next Generation EU, directs funds to where they can make the greatest difference, in line with the most crucial recovery needs of the EU Member States and our partners around the world.
The funding will help rebuild and modernise Union, by fostering the green and digital transitions, creating jobs and strengthening Europe’s role in the world.
The budget reflects Europe’s priorities, which are relevant to ensure a sustainable recovery.
It is essential that the draft budget is adopted swiftly so that hundreds of thousands of entrepreneurs, researchers, farmers, and municipalities across Europe can start benefitting from the funds, thus investing in a better future for next generations.
Read – Draft budget 2021 (factsheet)
Original source: European Commission
Published on 24 June 2020
