Politics
(Brussels) The budgetary authorities of the European Union – i.e. the European Parliament and the Council -, with the support of the Commission, have agreed the EU Budget for 2020 overnight. Two figures are of relevance: €168.69 billion in commitments (money that can be agreed in contracts in a given year) and €153.57 billion in payment credits (money that can be paid out over 12 months). The agreed Budget will allow the EU to “focus its resources on the priorities that matter to citizens”, the Commission explains in a statement: “climate change, jobs, young people, security and solidarity in the EU”. Günther H. Oettinger (pictured), European Commissioner for Budget, stated: “The Budget will channel resources to where the needs are. It will help create jobs, address climate change, and leverage investments all over Europe. It will invest in young people and in making Europe more secure. All of these priorities are also reflected in the Commission’s proposal for the long-term EU budget beyond 2020”. After Council has formally adopted the compromise, the 2020 Budget will be voted on in plenary during next week’s session of the European Parliament in Strasbourg. Around 93% of the budget is invested in EU Member States. The administrative expenses account for approximately 7% of the total.
