The European Parliament and the Council of the European Union, on a proposal from the European Commission, have reached an agreement on the EU budget for 2023. The agreement is for commitments of €186.6 billion, and payments of €168.7 billion.
Once adopted, the budget would allow the EU to mobilise significant funds to help mitigate the severe consequences of Russia's war of aggression against Ukraine in the country but also in the southern neighbourhood and Member States. It would also support the ongoing sustainable recovery from the coronavirus pandemic, and protect and create jobs. It would trigger further investments into a greener, more digital and more resilient Europe, while protecting the most vulnerable in its neighbourhood and around the world.
Johannes Hahn, Commissioner for Budget and Administration said: „During these trying times, Europe shows that it can deliver for the benefit of all. The budget agreed today will help address the consequences from Russia’s war of aggression against Ukraine through more funding, including for migration, solidarity lanes, sufficient energy supplies, defence but also support to the EU countries accepting the people fleeing Ukraine”.
Together with the budget for 2023, the EU institutions agreed to endorse the proposed amendments to the 2022 budget as tabled by the Commission earlier this year. Once the approval process is finalised, the Commission will be able to continue supporting and assisting Ukraine, help Member States more affected from the inflow of migrants and Ukraine refugees, strengthen the Union's preparedness for forest fires, respond to the currents outbreaks of avian influenza and swine fever, and address further challenges stemming from the overall macroeconomic context.
In parallel to the annual budget for 2023, EU countries will continue to rely on support from the NextGenerationEU recovery instrument and the Recovery and Resilience Facility at its heart.
The EU’s long-term budget, coupled with NextGenerationEU (NGEU), the temporary instrument designed to boost the recovery, form the largest stimulus package ever financed in Europe. A total of €2.018 trillion in current prices are helping rebuild a post-COVID-19 Europe. It will be a greener, more digital and more resilient Europe.
Main elements of the package: research and innovation, via Horizon Europe; fair climate and digital transitions, via the Just Transition Fund and the Digital Europe Programme; preparedness, recovery and resilience, via the Recovery and Resilience Facility, rescEU and a new health programme, EU4Health.