The European Parliament and the Council of the European Union have provisionally agreed on an EU budget for 2022 that will prioritise fighting climate change and economic recovery.

As part of the budget for the coming year, €53.1 billion has been allocated for the Common Agricultural Policy (CAP), while €971.9 million will go to the European Maritime, Fisheries, and Aquaculture Fund, for Europe’s farmers and fishermen.

European Maritime, Fisheries, and Aquaculture Fund
This will also help to strengthen the resilience of the agri-food and fisheries sectors, and to provide the necessary scope for crisis management.

The overall EU budget agreed for 2022 is €169.5 billion, and payments of €170.6 billion.

Once adopted, the budget will allow the EU to use significant funds for a continued EU response to the coronavirus pandemic and its consequences; to kick-start a sustainable recovery; and to protect and create jobs.

It will also trigger further investments into a greener, more digital and more resilient Europe, while protecting the most vulnerable, according to a statement from the European Commission.

The budget includes (but is not an exhaustive list):

  • €49.7 billion in commitments to support the recovery by boosting investments in economic, social and territorial cohesion;
  • €53.1 billion for CAP and €971.9 million for the European Maritime, Fisheries, and Aquaculture Fund;
  • €12.2 billion for Horizon Europe, to support the EU’s research in areas like health, digital, industry, space, climate, energy, and mobility;
  • €613.5 million for the Single Market Programme, supporting competitiveness and SMEs, including in the tourism sector;
  • €1.2 billion under the Just Transition Fund to make sure the transition to climate neutrality works for all;
  • €755.5 million under the LIFE programme to support environment and climate action;
  • And other funding for transport infrastructure; young people; migrants and those seeking asylum; and more.

The joint agreement now requires ratification within 14 days.

It is expected that the Council will approve it on November 23, and the Parliament on November 25-26.

EU BUDGET