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6/8, 4:02 PM (Source: TeleTrader)
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EU Commission proposes €167.8B budget for 2022

The European Commission proposed on Tuesday the budget for 2022 worth €167.8 billion, to be complemented by around €143.5 billion in grants under NextGenerationEU fund. The biggest spending items include €118.4 billion to mitigate the impact of the COVID-19 pandemic and prepare economies for a green transition, €53 billion for the Common Agricultural Policy, and €36.5 billion for regional development and cohesion.

"Today, we are putting forward unprecedented levels of financial support to reinforce Europe´s recovery from the health and economic crises. We will help the people, companies and regions that have been most affected by the pandemic. We will invest in Europe's resilience and its modernization via the green and digital transition. Getting Europe back on track, speeding up its recovery and making it fit for the future are our main priorities," said Commissioner Johannes Hahn, responsible for the EU budget.

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