The European Parliament, the Commission and the Council have reached an agreement on the 2020 European Union budget. The total allocation will be divided into commitments – for which €168.69 billion has been allocated – and payments – which amount to €153.57 billion.
It is worth noting the increase in funds allocated to the 2020 Horizon programme, which now amount to approximately €13.5 billion (+8.8% compared to 2019).
The specific allocations are as follows:
- €89.93 billion will be allocated to strengthening the economic competitiveness of the European Union. Of this, €58.65 billion will be directed towards the European Structural and Investment Funds, aimed at reducing the economic gap between European states and regions by promoting investment and economic growth in the most depressed areas;
- €58.12 billion for the Common Agricultural Policy;
- €2.89 billion for the Erasmus+ programme and €166.1 million for the European Solidarity Corps;
- €2.36 billion for migration management, which will be carried out through the Asylum, Migration and Integration Fund, the Internal Security Fund, and the Frontex, Europol, EASO and eu-LISA agencies;
- €1.2 billion for the promotion of the European Galileo satellite navigation system in international markets;
- €255 million for inter-industrial cooperation projects in the defence sector;
- €13.49 billion for Horizon 2020;
- €2.58 billion for the Connecting Europe Facility (CEF);
- €589.6 million for the LIFE programme for the environment and climate action (+5.6% compared to 2019);
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