The European Commission has made a landmark announcement today, proposing an annual EU budget of €199.7 billion for the year 2025. This substantial budget will be complemented by an estimated €72 billion in disbursements under the NextGenerationEU program. The proposed financial allocation is designed to reinforce funding for Europe’s key priorities, aligning with the revisions made to the Multiannual Financial Framework (MFF) in February 2024.
The draft budget for 2025 emphasizes the strategic distribution of funds to address critical areas and align with the needs of EU member states and global partners. The primary goal is to enhance Europe‘s resilience and adaptability for the future, ultimately benefitting EU citizens and businesses. This will be achieved through initiatives that promote green and digital transitions, create employment opportunities, and enhance Europe‘s strategic autonomy and global influence. The proposed budget will also extend support to essential technologies through the Strategic Technologies for Europe Platform (STEP).
Key Highlights of the budget:
- Support for Partner Regions: The budget allocates significant funds to continue supporting Syrian refugees in Türkiye, the wider region, the Southern Neighbourhood, and the Western Balkans. Additionally, stable support is earmarked for Ukraine.
- Allocation Breakdown: Among the notable allocations are €53.8 billion for the Common Agricultural Policy, €49.2 billion for regional development and cohesion, and €16.3 billion for international cooperation, including funds for the Neighbourhood, Development, and International Cooperation Instrument.
- Research and Innovation: A substantial portion, €13.5 billion, will be dedicated to research and innovation, with a significant sum allocated to Horizon Europe, the Union’s flagship research program.
- Strategic Investments: The budget includes provisions for European strategic investments, focusing on areas such as cross-border infrastructure, digital transformation, and key technological advancements.
- Focused Initiatives: Specific budgetary allocations target environment and climate action, border protection, migration-related spending, defense capabilities, and the functioning of the Single Market, among others.
- Upcoming Adoption: The annual budget for 2025 is set to be formally adopted by the Budgetary Authority before the year’s end, following a thorough review process.
The proposed budget for 2025, rooted in the long-term budget framework adopted in 2020 and amended in 2024, underscores the Union’s commitment to turning its priorities into tangible outcomes. The financial plan aims to drive impactful changes and advancements across a spectrum of areas crucial for Europe’s development and sustainability.
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First published in this link of The European Times.
