| Author Details | (Compiler) |
|---|---|
| Author (Corporate) | European Information Hub |
| Publication Date | 2023 |
| Content Type | News, Overview, Policy-making |
Summary:Information Guide bringing together relevant documents and reports concerning the annual budget of the European Union (EU) for 2024. This budget is influenced by the overall Multiannual Financial Framework (MFF) 2021-2027 and the NextGenerationEU instrument. It is the fourth budget in the existing MFF. Further information:The EU’s annual budget lays down all the European Union’s expenditure and revenue for one year. It provides for the funding of EU policies and programmes in line with the EU’s political priorities and legal obligations. The Council of the European Union adopted its guidelines for this annual budget on 14 March 2023. The plenary of the European Parliament adopted a Resolution concerning its Opinion on the budgetary estimates and guidelines on 10 May. The European Commission submitted the documents concerning its own proposal for the 2024annual budget on 7 June, comprising a total of €189.3 million to be complemented by an estimates €113 billion in grants under NextGenerationEU. The aim is to support economic recovery and job creation, while strengthening the EU's strategic autonomy. A Decision on the Council's position on the draft general budget was adopted on 5 September 2023. The draft budget was later amended via letter by the European Commission on 9 October. The European Parliament put forward amendments to the Council's position for the budget on 18 October. Due to disagreements, a Conciliation Committee was convened starting on 24 October. An agreement between the institutions on the annual budget for 2024 was reached on 11 November. Total commitments were set at around €189 million, and total payments amount to around €142 million. The Council of the European Union endorsed the agreed text on 20 November, followed by the plenary of the European Parliament on 22 November. Its definitive adoption was published in the Official Journal on 22 February 2024. |
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| Subject Categories | Economic and Financial Affairs |
| Subject Tags | EU Budget |
| International Organisations | European Union [EU] |
