The European Parliament and EU member states have officially reached an agreement on Europe's next long-term budget and on NextGenerationEU, the temporary recovery instrument.

Specifically, Parliament has secured a €15 billion increase for key EU programmes, such as Horizon Europe, EU4Health and Erasmus+. These resources will be sourced from additional funding of €12.5 billion derived from competition fines and budget reallocations of €2.5 billion.

The figures agreed at European level establish an increase of approximately €4 billion more for Horizon Europe, €3.4 billion for health, €2.2 billion more for Erasmus+, €1.5 billion more for the management of external borders and €1 billion for InvestEU.

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