EU formally adopts 2021-27 budget
The European Union’s member states have formally adopted the budget for 2021–27, the European Parliament announced on Friday.
The bloc confirmed its annual funds for 2021 would feature €164 billion in commitments and €166 billion in payments. Those will be focused on, among other things, supporting the recovery from the crisis caused by the coronavirus pandemic, as well as the zone’s single market, boosting investments, and digitalization.
The budget was approved just days after the EU reached an agreement on the matter with its members Hungary and Poland, which vetoed the initial proposal over their disagreements with its conditions.
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