EU budget to help Europe on the road to a green, digital, and resilient future
On 8 June, the European Commission proposed an annual budget of €167.8 billion for 2022, as well as an additional €143.5 billion under NextGenerationEU.
The draft budget is part of the EU’s long-term plan, which was adopted at the end of 2020. It seeks to turn key priorities into concrete actions. The budget will help to boost the economic recovery, improve sustainability, and create more jobs, and will prioritise spending on green and digital transitions to make Europe more resilient for the future.
Commissioner Johannes Hahn, responsible for the EU Budget, said:
“Today, we are putting forward unprecedented levels of financial support to reinforce Europe´s recovery from the health and economic crises. We will help the people, companies, and regions that have been most affected by the pandemic. We will invest in Europe's resilience and its modernisation via the green and digital transition. Getting Europe back on track, speeding up its recovery, and making it fit for the future are our main priorities.”
The draft budget directs funds towards Member States and partners who need these funds the most. The budget reflects the EU's political priorities, which are relevant to ensuring a sustainable recovery.
The Commission proposes:
- €118.4 billion in grants from NextGenerationEU
- €53.0 billion for the Common Agricultural Policy
- €36.5 billion for regional development and cohesion
- €13.1 billion for research and innovation
- €5.5 billion for European strategic investments
- €17.9 billion for investing in people, social cohesion, and values
- €2.1 billion for space programmes
- €1.9 billion for environment and climate action
- €1.9 billion to support candidate countries to meet the requirements of the EU's accession process
- €1.3 billion to support migration-related spending
- €1.2 billion to address defence and common security challenges
- €905 million to ensure the functioning of the Single Market
- €789 million for EU4Health
- €600 million for security
The instrument will help to build a post-COVID-19 EU that is ready for the challenges of the future. The Commission will continue to publish plans on funding distribution in the months to come.
Find out more about the EU budget for 2022 here.