The EU Budget for 2020 mainly focuses on growth and competitiveness, climate action and other areas such as security and Management of migration.
The European Parliament and the Council on 18th November reached agreement on an European Union budget for 2020.
According to European Council’s statement, the budget for 2020 mainly focuses on growth and competitiveness, climate action and other areas such as security and management of migration.
Total commitments are set at €168.7 billion. This is an increase of 1.5% compared to the 2019 budget as amended.
€1.5 billion have been kept available under the expenditure ceilings of the multiannual financial framework for 2014-2020, allowing the EU to react to unforeseeable needs. Total payments amount to €153.6 billion, rising 3.4% from 2019.
The aim is to ensure timely payments to beneficiaries and avoid a substantial accumulation of payment claims over the next few years, in particular in relation to cohesion policy, the council said.
Here’re five priority areas of 2020 EU Budget.
| Area | 2020 EU budget (in € million) | |
| Commitments | Payments | |
| 1. Smart and inclusive growth | 83 931 | 72 351 |
| – 1a. Competitiveness for growth and jobs | 25 285 | 22 308 |
| – 1b. Economic, social and territorial cohesion | 58 646 | 50 043 |
| 2. Sustainable growth: natural resources | 59 907 | 57 905 |
| 3. Security and Citizenship | 3 729 | 3 685 |
| 4. Global Europe | 10 262 | 8 929 |
| 5. Administration | 10 272 | 10 275 |
| Special instruments | 588 | 419 |
| TOTAL | 168,688 | 153,563 |
