Agreement on 2023 budget: EU wants to increase energy transition

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Climate crisis, Ukraine war, corona consequences: EU wants to spend more than one billion euros on the current crisis next year.

In the coming year, the EU intends to spend more money on the transition of power and dealing with the consequences of the Ukraine war. Shortly before midnight on Monday evening, negotiators from the EU Parliament and member states agreed that around 186 billion euros could be budgeted for 2023, according to Czech Deputy Finance Minister Jiri Georgiev. If they did not reach an agreement before midnight, the EU Commission would have to present a new budget proposal.

EU Parliament President Roberta Metzola welcomed the deal. “Now is the time to boost our economy. Stay united,” Metsola wrote on Twitter shortly after the deal.

A billion euros more than originally planned

In a statement, the EU Parliament wrote that one billion euros more could be made available than the EU Commission originally planned. The money is available, among other things, to further recover from the aftermath of the war in Ukraine and the corona crisis.

For example, the pot of money for investment in cross-border transport and energy infrastructure was increased and will now be made available for a total of 3 billion euros. Among other things, the Erasmus+ study exchange program was expanded to finance opportunities for young refugees, and 1.5 billion euros were planned to fund asylum, immigration and integration. Also there should be more money for health programs. Negotiators agreed to allocate 14.7 billion euros for neighboring European countries and international development, especially Ukraine and Moldova.

EU countries wanted to spend 183.95 billion euros

Specifically, the agreement provides that 186.6 billion euros can be planned for next year. The EU Parliament originally called for 187.3 billion euros to be made available next year. EU countries wanted to pay slightly less – 183.95 billion. This was just below EU Budget Commissioner Johannes Hahn’s proposal of 185.6 billion euros.

To implement the 2023 budget, the deal still needs to be confirmed by a plenary session of parliament and a cabinet. However, this is considered a formality.

https://nextpress.news

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