|Author (Corporate)||Cardiff EDC|
|Content Type||Blog & Commentary, News, Overview, Policy-making|
Information Guide bringing together relevant documents and reports concerning the annual budget of the European Union (EU) for 2023. This budget is influenced by the overall Multiannual Financial Framework (MFF) 2021-2027 and the NextGenerationEU instrument.
The Council of the European Union adopted its guidelines for this annual budget on 15 March 2022. The European Parliament adopted a Resolution on 5 April concerning its priorities for the budget.
The European Commission submitted the documents concerning its own proposal for the 2023 annual budget on 7 June, comprising a total of €185.6 million to be complemented by an estimates 113.9 billion in grants under NextGenerationEU. The main aims of the proposed budget are to mobilise investments to boost the EU's strategic autonomy, the economic recovery, safeguard sustainability and create jobs. Green and digital investments are the priority while addressing pressing needs arising from recent and existing crises. The proposal for the draft budget was eventually submitted on 1 July.
Member State representatives adopted their position concerning the proposal on 13 July. The Council formally adopted it on 6 September. Upon a proposal from the European Commission, the co-legislators reached an agreement for the annual budget on 14 November 2022. It establishes commitments of €186.6 billion, and payments of €168.7 billion. It is focused on addressing the consequences of Russia's invasion of Ukraine, engaging in a sustainable recovery from the COVID-19 (coronavirus) pandemic, and job protection and creation.
The Council of the European Union endorsed the agreed text on 22 November, followed by the plenary of the European Parliament on 23 November. Its definitive adoption was published in the Official Journal on 23 February 2023.
|Subject Categories||Economic and Financial Affairs|
|Subject Tags||EU Budget|
|International Organisations||European Union [EU]|