14 June 2022

The European Commission proposed, on June 7, a budget plan for 2023, which will have 113.9 billion euros within the NextGenerationEU framework.    

The 2023 budget will serve to address high-priority challenges: the digital and environmental transition, strengthen European strategic autonomy, accelerate economic recovery, and encourage job creation.    

European Budget  

 The European Union will have around €300 billion by 2023  

  • 113.9 billion euros in NextGenerationEU grants.    
  • 6.9 billion euros for the Just Transition Fund to ensure that the ecological transition works for all.  
  • 12.3 billion euros will go to Horizon Europe, the EU’s research program.   
  • 53.6 billion euros for the Common Agricultural Policy.  
  • 1.1 billion euros for the European Maritime, Fisheries, and Aquaculture Fund.  
  • 341 million euros for the InvestEU program to address issues of research and development, ecological and digital transition, the health sector, and strategic technologies.     
  • 2.9 billion euros for the Connecting Europe Facility to improve cross-border infrastructure.  
  • 1.3 billion euros for the Digital Europe program. 
  • 3. 500 million euros for the Erasmus+ program to provide funding opportunities for projects under this program.    
  • 708 million euros for the LIFE program to support climate change mitigation and adaptation.   
  • 732 million euros for EU4Health to ensure a comprehensive

Multiannual Financial Framework     

The 2023 budget is part of the EU’s Multiannual Financial Framework (MFF) for the period 2021-2027. This seven-year budget cycle was adopted at the end of 2020 by heads of state and government to spend 30% of the long-term budget and Next Generation EU funds on policies against environmental change. NextGenerationEU grants could evolve over time so the Commission will publish reports on funding every six months.     

NextGenerationEU helps the European Union to overcome the damage caused by the coronavirus pandemic, both economically and socially. It is a tool to address the ecological crisis and enables the EU to become greener, more digital, resilient and better prepared for future challenges.  

Diego Gonzalez Armesto

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