The European Union moved one step closer to adopting a 320 billion euro ($360 billion) draft budget for 2020 on Wednesday after it was approved by the member states' ambassadors, the Council of the European Union said in a press release
MOSCOW (Pakistan Point News / Sputnik - 10th July, 2019) The European Union moved one step closer to adopting a 320 billion euro ($360 billion) draft budget for 2020 on Wednesday after it was approved by the member states' ambassadors, the Council of the European Union said in a press release."EU ambassadors today agreed the Council's position on the 2020 EU draft budget. Once formally adopted by the Council, this will serve as a mandate for the presidency in negotiations with the European Parliament," the press release read.
The council is expected to formally adopt its position on the draft in early September. The parliament will make its stance known in the second half of October.
The draft includes 166.8 billion Euros in commitments and 153.1 billion in payments, an uptick of 0.6 percent and 3.3 percent from 2019, respectively.
"The agreed figures are based on the premise that the UK will continue to participate fully in the financing and implementation of the EU budget until the end of 2020," the council said.
The biggest increase in funding will concern EU satellite navigation systems, energy infrastructure links and youth employment, with priority also given to climate action, border controls and commitments made to Turkey under a 2015 deal on migrant returns.
