The Commission has today proposed an annual EU budget of €199.7 billion for 2025. The budget will be complemented by an estimated €72 billion of disbursements under NextGenerationEU. This substantial financial envelope will support the EU in meeting its political priorities while integrating the changes agreed in the mid-term revision of the Multiannual Financial Framework (MFF) in February 2024. The draft budget 2025 directs funds to where they can make the greatest difference, in cooperation and in line with the needs of...

Read more

Blog post by Era Dabla-Norris, Ruud de Mooij | New generative-AI technologies hold immense potential for boosting productivity and improving the delivery of public services, but the sheer speed and scale of the transformation also raise concerns about job losses and greater inequality. Given uncertainty over the future of AI, governments should take an agile approach that prepares them for highly disruptive scenarios. A new IMF paper argues that fiscal policy has a major role to play in supporting a more equal distribution of...

Read more

Blog post by Maarten G.A. Daman | Many people appreciate privacy when paying, and want their data protected. Current electronic means of payment are not optimal in this regard. We are designing the digital euro to be the most private electronic payment option. The ECB Blog explains. Paying is a private affair for many people. The idea that tech companies, banks, governments or employers might track payments is not particularly appealing. Cash provides a solution to avoid such tracing, but...

Read more