The EU budget for 2023 will be officially adopted on 23 November. Photo: Shutterstock

The EU budget for 2023 will be officially adopted on 23 November. Photo: Shutterstock

The EU will have a budget of €186.6bn in commitments and €168.7bn in payments for 2023, after the Council of the European Union and the European Parliament on 14 November approved the EU Commission’s proposal.

For 2023, member states will concentrate their efforts and funds on dealing with the consequences of the past few years. Between mitigating the damages caused by the Russian war against Ukraine, the energy crisis that followed and the long-term impacts of covid-19 on the economy, the EU will have to invest into what it describes as “a greener, more digital and more resilient Europe” in

“The budget agreed today will direct funds to where they can make the greatest difference,” says the EU commission who put together the budget proposal. As such, €14.7bn of the total will go towards development and cooperation opportunities in Europe and the world. Further help will be provided to Ukraine too, “including for migration, solidarity lanes, sufficient energy supplies, defence but also support to the EU countries accepting the people fleeing Ukraine.”

The budget will be formally adopted on 23 November 2022, during a plenary.