| Author (Person) | Rocha, Frederico |
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| Publisher | Cardiff EDC |
| Publication Date | 18/11/2017 |
| Content Type | News |
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Further information: The preliminary figures showed €160.1 billion in commitment appropriations and €144.7 billion billion in payment appropriations. The agreed budget proposal was seen as translating into action the main priorities put forward by the European Commission for its activity: creation of jobs, growth and investment, security, convergence and facing the challenges of migration. The European Parliament included in the proposed document a set of cuts in pre-accession funds to Turkey by €105 million due to the deterioration of the country's democracy, rule of law and human rights. Background information: The initial proposal was adopted by the European Commission in May 2017, which included a budget of €160.6 billion. The Council of the European Union formally adopted its position on 4 September, while the European Parliament approved its position on 25 October. While the former suggested a figure €1.7 billion lower than the original proposal, the latter wanted to add €2 billion to that figure to increase infrastructure and research spending. Differences between the positions of the two institutions are addressed in a negotiation process known as the 'conciliation procedure', which started on 31 October. Formal endorsement of the agreement was still needed from both sides before final adoption. This budget would also be the last one with the United Kingdom as full member of the European Union for the whole year. The EU institutions reached an agreement on 18 November 2017 regarding the Annual Budget for 2018. |
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| Subject Categories | Economic and Financial Affairs |
| Countries / Regions | Europe |
