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Tuesday, November 29, 2022
HomeEconomyThe Europeans agreed on the 2023 budget - What it provides -...

The Europeans agreed on the 2023 budget – What it provides – When will it be voted on

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The agreement involves commitments of €186.6 billion (a 1.1% increase over the 2022 budget) and payments of €168.7 billion (a 1% increase)

The European Parliament and the Council of the EU have reached an agreement on the EU budget for 2023.

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The agreement concerns commitments of €186.6 billion (a 1.1% increase over the 2022 budget) and payments of €168.7 billion (a 1% increase).

The European Commission welcomed the deal, stressing that when the 2023 budget is adopted, it will enable the EU to mobilize significant resources to help mitigate the serious consequences of Russia’s war of aggression against Ukraine both in the country itself and in the southern neighborhood and the Member States.

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In addition, it will help support the ongoing sustainable recovery from the coronavirus pandemic and protect and create jobs. It will also trigger further investment in a greener, digital and resilient Europe, while protecting the most vulnerable populations in its neighboring countries and around the world.

When will it be voted on?

The annual budget for 2023 will have to be formally approved by the Council of the European Union and the European Parliament. The plenary vote, which will mark the end of the process, is scheduled for November 23, 2022.

What does it predict?

Among other things, it was agreed to make available:

• 14.7 billion euros to support neighboring countries and international development and cooperation. The agreement includes targeted increases for the Neighbourhood, Development and International Cooperation Mechanism (NDIC) — Europe in the world (€12.3 billion); with an emphasis on Ukraine and Moldova, migration and the southern neighbourhood, as well as the humanitarian aid program (€1.8 billion) to deal with crisis situations around the world;

€1.5 billion for the Asylum, Migration and Integration Fund and €956.8 million for the Integrated Border Management Fundwith a view to strengthening cooperation in the field of external border management, as well as migration and asylum policy, including support to Member States hosting refugees from Ukraine

• EUR 3 billion for the Connecting Europe Facility targeting modern and high-performance transport infrastructure to facilitate cross-border connections, (with a particular focus on strengthening the EU-Ukraine solidarity corridors, and the energy strand to address of the energy crisis, complementing the €20 billion REPowerEU proposal);

3.7 billion euros for Erasmus+ to invest in youth, including pupils and students leaving Ukraine, as well as EUR 332.8 million for the cultural and creative sectors through the Creative Europe programme;

• €62.9 billion in commitments to support the ongoing recovery by boosting investment in economic, social and territorial cohesion;

• €53.6 billion for the common agricultural policy and €1.1 billion for the European Maritime, Fisheries and Aquaculture Fund, for European farmers and fishermen, but also for strengthening the resilience of the agri-food and fisheries sectors and providing the necessary capabilities for crisis management;

• €12.4 billion for Horizon Europe to support EU research in areas such as health, digital, industry, space, climate, energy and mobility;

• €1.5 billion under the Just Transition Fund to ensure that the transition to climate neutrality benefits everyone and €755.5 million under the LIFE program to support environment and climate actions

RES-EMP

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Debra
Debra
I have over 10 years of experience working in the news industry. I have worked for several different news organizations, including a large news website like News Bulletin 247. I am an expert in the field of economics and have written several books on the subject. I am a highly skilled writer and editor, and have a strong knowledge of social media. I am a highly respected member of the news industry, and my work has been featured in many major publications.

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