EU countries approve 189 billion for the 2024 community budget

EU countries approve 189 billion for the 2024 community budget

The EU countries have given their approval this Monday to the 2024 community budget, which commits more than 189,000 million euros for areas of action in the coming years and more than 142,500 million euros for payments related to commitments from previous years, in line with the provisional agreement reached on November 11 with the European Parliament.

In addition, the budget for 2024 includes an allocation of 360 million euros from the 2021-2027 multiannual financial framework for unforeseen events. While still waiting for the plenary session of the European Parliament to validate the text agreed on November 11, for which it has two weeks, the approval of the European Parliament would also be missing for a definitive approval of this final text.

The Secretary of State, Esperanza Samblás, has highlighted that the agreement will allow us to “focus on priority areas for the EU, while maintaining sufficient financial margin to respond to unforeseen circumstances.” She considers this a realistic approach to face new challenges in 2024.

The community budget reflects the priorities for the next financial year, such as economic recovery or the green and digital transition, as well as the geopolitical context.

On November 11, negotiators from the European Parliament and the Council reached an agreement that adds to the European Commission’s proposal an economic allocation for humanitarian aid to neighboring countries of the EU as well as for the Horizon research and development program. Europe and the Erasmus exchange.

Specifically, the agreement with the European Parliament implies a greater budget allocation, compared to the 187 billion proposed by the EU Council proposal, following the demands of MEPs.

After the provisional agreement signed last November 11, The European Commission indicated that such an agreement will make it possible to address the “most urgent” consequences of the crisis in the Middle East.

Budget until 2027

Where there continues to be controversy and division is the review of the multiannual financial framework until 2027. What the Community Executive proposed was that the countries will contribute an additional 66 billion euros, mainly to provide aid to Ukraine and to face the rise in interest rates.

The review of the community budget, until 2027, is divided between frugal countries, reluctant to provide more financing to the community coffers and the position of the far-right government of Viktor Orbán in Hungary, which refuses to provide more aid to Kiev. A position that Slovakia has now joined.

It will be in December, during the discount period before the end of the year, that the Twenty-Seven will try to find a common point for the community budget. The alternative proposed by the Netherlands, Denmark, Austria or Sweden is to redirect unallocated items of European funds for such purposes, although a report prepared by the Community Executive warns that action in this sense would reduce spending in the EU by 30%.

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