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Agreement on EU budget for 2020: Tackling climate change and delivering on other EU priorities

Nov 19, 2019
Agreement on EU budget for 2020: Tackling climate change and delivering on other EU priorities

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The three EU institutions agreed on the EU’s budget for 2020. This will allow the EU to focus its resources on the priorities that matter to citizens: climate change, jobs, young people, security and solidarity in the EU. Next year’s budget will also prepare the transition to the next budgetary cycle as it will be the seventh and last one under the current 2014-2020 long-term budgetary cycle.

Günther H. Oettinger, European Commissioner for Budget and Human Resources, said: “The 2020 EU budget is about continuity – it is the last one under the current long-term budget and the last one that the Juncker Commission proposed and negotiated. It will channel resources to where the needs are. It will help create jobs, address climate change, and leverage investments all over Europe. It will invest in young people and in making Europe more secure.”

The 2020 EU budget is set at €168.69 billion in commitments (money that can be agreed in contracts in a given year) and €153.57 billion in payment credits (money that will be paid out). Some key features include:

  • 21% of the overall budget will go to measures to address climate change.
  • Close to half of the funds – €83.93 billion in commitments (+4.1% compared to 2019) – will help making our economy more competitive.
  • The European global satellite navigation system Galileo will be supported with €1.2 billion (+74.7% compared to 2019) to expand its worldwide market uptake to reach 1.2 billion users by the end of 2020.
  • €255 million will provide incentives for European companies to work together to develop defence products and technology under the European Defence Industrial Development Programme.
  • Young people will benefit through a number of programmes: €2.89 billion will go to education through Erasmus+ (+3.6% compared to 2019).
  • European farmers will benefit from €58.12 billion.
  • Security and migration management will continue to receive support.

Original source: European Commission
Published on 18 November 2019