THE European Commission has proposed a budget for 2001 of EUR96.924 billion, up 3.3% on this year

Date: 11/05/2000

Budget Commissioner Michaele Schreyer said her spending plans were "rigorous" but "responsible". She added that despite the proposed increase, overall spending next year would only represent 1.07% of the Union's total national product compared to 1.11% this year. Spending on agriculture is set to rise by 7.6% to €48.993 billion to pay for larger compensation payments required under the reforms agreed at last year's Berlin summit. Spending on external relations projects is set to rise by 3.9% to €5.861.9 billion, with €800 million earmarked for the western Balkans. The draft budget will have to be approved by EU finance ministers and MEPs.