19 Jun 2024
Commission presents its proposal for EU Budget 2025
The Commission presented its proposal on the EU budget 2025 which is of €199.7 billion. The proposal reflects the mid-term revision of the expenditure ceilings in the MFF. It includes €13.5 billion for research and innovation, of which €12.7 billion go to Horizon Europe. The Draft Budget also includes the financing of the European Chips Act under Horizon Europe and through redeployment from other programmes. The redeployment of €2.1 billion from Horizon Europe agreed in the European Council conclusions of 1 February will be divided as follows:
- 2025 minus 397 million euros,
- 2026 minus 617 million euros and
- 2027 minus 1,086 million euros.
The annual budget for 2025 will have to be formally adopted by the Council and the European Parliament before the end of the year. The Council first adopts its position on the draft budget by 1 October (including amendments). The position of the Parliament follows within 42 days (also including eventual amendments). In case of divergent positions of the Council and the Parliament, a Conciliation Committee is convened with the task of reaching agreement on a joint text within a period of 21 days following the adoption of the European Parliament's position. This joint text is then subject to the approval of the Council and the Parliament within 14 days of the agreement.
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