EU budget for 2024: EU Parliament and countries reach agreement
The EU budget for the coming year has been finalized. On Saturday night, negotiators from the EU Parliament and the member states agreed that around 189.4 billion euros can be planned for 2024, according to the announcements.
According to the Parliament, there will be more money for areas such as dealing with the consequences of the war in Ukraine and global challenges, research, supporting young people - for example through the Erasmus program - and green spending.
The budget negotiations are particularly important for Germany because, as the largest net contributor to the Union, the Federal Republic contributes almost a quarter of the EU budget. At the same time, the Federal Government emphasizes that Germany benefits more from the EU internal market than any other European economy.
How much money can be planned?
The agreement is a realistic approach that takes into account the current economic and geopolitical context, said the responsible Spanish State Secretary Esperanza Samblás. New challenges that could arise in 2024 will be taken into account. Spain currently holds the presidency of the EU Council. Parliament and the countries still have to formally confirm the agreement.
Basically, the negotiations focused on the question of how much money can be planned for 2024. In the summer, the EU Commission proposed a budget of 189.3 billion euros for the coming year, with green and digital spending continuing to have priority. The EU countries wanted to provide around 187 billion euros. The framework for the annual budget was set by the long-term EU budget agreed in 2021. It comprises around 1.1 trillion euros for the period 2021 to 2027.
More difficult than usual
This year's negotiations for next year's budget were more complicated than usual, as an increase in the long-term EU budget, the so-called Multiannual Financial Framework (MFF), is currently being discussed. At the end of June, the EU Commission asked the member states for an additional €66 billion for the coming years, partly to finance additional aid for Ukraine, in view of the lack of money in the long-term EU budget.
Several countries, including Germany, strongly criticized the request for more money. There is only broad agreement on further payments for Ukraine, although Hungarian Prime Minister Viktor Orban is threatening to veto this. A protracted debate is looming. Following an agreement on the MFF, the budget for 2024 will be addressed once again.
The money from the EU's common budget will be used to fund projects for better protection of the EU's external borders and environmental and climate protection, among other things. A large part of the amount will also continue to be used to support farmers and comparatively poor regions in the EU countries.
The EU budget for 2024 will directly impact household budgets in member states, as a significant portion of the funding will be used to support farmers and economically disadvantaged regions within the EU. Member states, including Germany, will contribute to this EU budget, highlighting the interconnectedness of the EU and its household economies.
Source: www.dpa.com
