The new budget will be more flexible to cope with unforeseen crises.
Ursula von der Leyen has unveiled her much-anticipated proposal for the new budget of the European Union, worth €2 trillion between 2028 and 2034, a sizable increase compared to the €1.21 trillion approved by leaders in the summer of 2020.
“It is more strategic, more flexible, more transparent,” the president of the European Commission said on Wednesday afternoon.
“We are investing more in our capacity to respond and more in our independence.”
Her blueprint remodels the budget’s structure along three main pillars.
- €865 billion for agricultural, fisheries, cohesion and social policy.
- €410 billion for competitiveness, including research and innovation.
- €200 billion for external action, including €100 billion for Ukraine.