EU Commission proposes budget plan for the year 2025
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The EU budget for the upcoming year is projected to be roughly 200 billion Euro, as proposed by the EU Commission, with around 72 billion Euro stemming from the Corona recovery fund, according to announcements made in Brussels on a Wednesday.
Budget Commissioner Johannes Hahn stated, "The EU budget equips Europe with the tools to tackle present and future challenges, primarily through the promotion of green and digital transitions and the enhancement of the Union's overall resilience."
The Commission's proposed budget for 2025 stands at 199.7 billion Euro, an increase from the 2024 budget of 189.4 billion Euro. As per Brussels officials, most of the funding will be directed towards green and digital transitions, job creation, enhancing strategic autonomy, elevating Europe's global status, and offering continued support for Ukraine.
The bulk of the proposed budget for 2025, as per the Commission's proposal, will be channeled into the Common Agricultural Policy (53.8 billion) and Cohesion Policy (49.2 billion). Cohesion funds are designed to aid economically and socially disadvantaged regions in their growth, thereby reducing disparities. Moreover, there will be substantial funding for international cooperation, humanitarian aid in third countries, research, the EU's migration policy, and the expansion of infrastructure.
The budget proposal will now be subject to discussions among the EU states and the European Parliament. The proposal is based on the multiannual budget, or the multiannual financial framework (MFF), for the years 2021 to 2027, which covers approximately 1.1 trillion Euro. As the largest net contributor to the Union, Germany accounts for nearly a quarter of the funds. The German government underscores that Germany reaps just as significant benefits from the EU internal market as any other European economy.
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The EU Commission's proposed budget increase for 2025 includes an allocation for household expenditures, aiming to enhance Europe's overall resilience and promote sustainable development. In response to the EU Commission's proposal, some household members have expressed support for the increased funding towards green and digital transitions, as well as job creation and international cooperation.
