An EU budget for 2020 has been defined, and it will allow the EU to focus its resources on priorities that are important to citizens: climate change, jobs, youth, security and solidarity in the EU.
Günther H. Oettinger, European Commissioner for Budget and Human Resources, said: "The EU budget for 2020 is continuity - the last one according to the current long-term budget and the last one proposed and negotiated by the Juncker Commission. This will help create jobs, tackle climate change and stimulate investment across Europe. It will invest in young people and protect Europe. All these priorities are also reflected in the Commission's proposal for a long-term EU budget after 2020. Now EU should focus on adopting the next long-term budget in a timely manner to ensure security and stability for users and continue to create EU added value for all. "
The EU budget for 2020 has been defined to be € 168.69 billion and € 153.57 billion in credit loans. Key features include:
21% of the overall budget is devoted to climate change measures
About half of the funds are earmarked for the competitiveness of the economy
€ 1.2 billion will go to the European Global Satellite Navigation System Galileo
€ 255 million will provide incentives for European companies to work together to develop defense products and technology in line with the European Defense Industrial Development Program.
€ 2.89 billion will go to education through Erasmus + while the European Solidarity Corps will create opportunities to volunteer or work on projects at home or abroad with € 166.1 million (+ 15.9% over 2019)
EUR 58.12 billion is earmarked for European farmers
€ 2.36 billion will go to the Asylum, Migration and Integration Fund, the Internal Security Fund and the agencies active in this field (Europol, European Border and Coast Guard Agency (Frontex), EASO, eu-LISA.