EU Council Publishes Draft Budget for 2020
The EU Council adopted the draft EU budget for 2020, with 21% of the budget going to climate projects.
« Today, the Council approved the agreement reached with the European Parliament last week on the EU budget for 2020. If the agreement is also confirmed (by plenary session) of the European Parliament on Wednesday, the EU budget for 2020 will be adopted, » the press release said. At the same time, about 21% of the budget will go to measures aimed at combating climate change, the message specified.
The EU also plans to support the Galileo navigation system next year in the amount of €1.2 billion from the total budget of the EU countries, which is 74.7% more than in 2019. This is done so that the system expands its presence in the global market and reached 1.2 billion users by the end of 2020.
It is assumed that the budget commitments for 2020 will amount to €168.7 billion – these are the funds to be approved next year. The volume of budget payments will be at the level of €153.6 billion – this is money that can be directly paid both on new and on previous projects, which are supported by the EU budget. The volume of obligations in this way will increase by 1.5% compared to 2019, and payments – by 3.4%, the release says.
The EU budget is mainly funded by contributions from member countries.