The European Commission proposed this Wednesday an annual European Union (EU) budget of 199.7 billion euros for 2025, with the largest share (53.8 billion) allocated to the Common Agricultural Policy (CAP).
The proposed budget will be supplemented by an estimated €72 billion in payments under NextGenerationEU, the financial instrument created in the wake of the Covid-19 pandemic.
The biggest spending commitments are for priorities such as CAP, worth €53.8 billion, plus €900 million for a fisheries fund to help the sector cope with the crisis it finds itself in, according to the community leader. This is followed by an amount of 49.2 billion euros for regional development and cohesion.
External assistance, namely neighborhood and development policy, is to receive 16.3 billion euros, with a portion of 1.9 billion euros allocated for humanitarian assistance.
To help Ukraine, another 4.3 billion euros have been allocated in the form of grants, as well as loans worth 10.9 billion euros.
Regarding migration policy, the Community Executive proposes a budget of 2.7 billion euros to protect external borders and a further 2.1 billion euros to help migrants and asylum seekers in the EU.
The financial allocation presented this Wednesday includes changes envisaged in the mid-term review of the Multiannual Financial Framework (MFF) 2021-2027 in February 2024 and is due to be approved before the end of the year.