The EC proposed an EU budget for 2022 of 167.8 billion euros

The European Commission (EC) on Tuesday proposed an EU budget for 2022 of 167.8 billion euros. That amount should be added to an estimated € 143.5 billion in grants under a recovery plan through the EU's next generation program (NGEU), said EU Commissioner for Budget Johannes Hahn. The budget for 2022 represents EUR 167.8 billion in commitments and EUR 169.4 billion in payments. The Commission stated that the "firepower" of the budget and grants through the recovery plan would mobilize investments to revive the economy, ensure sustainability and create jobs. "We are presenting an unprecedented level of financial support for Europe 's recovery from the health crisis. We will help the people, companies and regions most affected by the pandemic. We will invest in Europe's resilience and modernization. The priority is to get Europe back on track for the future, "Hahn explained. The Commission proposes to commit the following amounts in commitments: € 118.4 billion in grants through the NGEU to mitigate the economic and social impact of the corona crisis and to ensure the sustainability, resilience and better preparedness of EU economies for future challenges. An amount of EUR 53 billion is earmarked for the common agricultural policy and EUR 972 million for the European Maritime, Fisheries and Aquaculture Fund and for strengthening the resilience of the agri-food and fisheries sectors. The European Agricultural Fund for Rural Development is expected to receive € 5.7 billion from the NGEU. The European Commission has proposed € 36.5 billion for regional development and cohesion, reinforced by € 10.8 billion through the NGEU under the REACT-EU program. The Commission proposes € 14.8 billion to support the EU's partners and interests in the world, of which € 12.5 billion under the Neighborhood, Development and International Cooperation Instrument and € 1.6 billion for humanitarian aid. The Commission has earmarked € 13.1 billion for research and innovation, of which € 12.2 billion for the Horizon Europe research program. It could receive another 1.8 billion euros from the NGEU for this "envelope".