On Wednesday 24 June, the European Commission adopted a draft European Union budget for 2021, which, at current prices, amounts to €166.7 billion in commitments, or 1.19% of the EU27’s Gross National Income (GNI).
This represents a significant decrease - of 9.7% - compared to the 2020 budget (including -25% for cohesion policy), caused by the UK's departure from the EU and the end of the transition period.
The Commission is anticipating receiving €163.5 billion in payments in 2021,...