EU budget 2020: €168.3 billion for the European economy, solidarity and security

On June, 5th, 2019, the Commission has proposed an EU budget of €168.3 billion for 2020 for a more competitive European economy, and for solidarity and security in the EU and beyond. This budget is the seventh and last one under the current 2014-2020 long-term EU budget.

It is designed to optimise funding for existing programmes as well as new initiatives and to boost the European added value in line with the Juncker Commission’s priorities. More than €83 billion in commitments will boost economic growth, European regions and will support young people.

Of them €13.2 billion are planned for research and innovation across Europe under Horizon 2020, €2.8 billion for education under Erasmus+, €117 million for the Youth Employment Initiative (YEI) to support young people living in regions where youth unemployment is high, €1.2 billion for Europe’s own global satellite navigation system Galileo and €255 million for the European Defence Industrial Development Programme (EDIDP).

Together with the draft budget, the Commission has published a performance overview for each of the programmes financed by the EU budget. It shows that the EU budget is delivering concrete results for the people in the EU and beyond.