At a special summit in Brussels on 21 July, the EU leaders agreed on an overall budget of 824 trillion EUR. Combining the multiannual financial framework (MFF) and an extraordinary recovery effort known as the Next Generation EU (NGEU), the package will help the EU to rebuild after the COVID-19 pandemic and will support investment in the green and digital transitions. The EU’s seven-year budget worth 1074 billion EUR will cover the following main spending areas: single market, innovation and digital; cohesion, resilience, and values; natural resources and the environment; migration and border management; security and defense; neighborhood and the world; European public administration. Read more here.
Source: Council of the European Union