Press Release: Unspent EU funding record low in 2004

The European Commission on 18 May 2005 approved a Preliminary Draft Amending Budget to include the 2004 surplus into the budget, reducing the contributions required by Member States for 2005. Only 1% of the EU budget remained unspent in 2004, setting a new record low for unused funding of €1,190 million. Thanks to improved implementation of the EU budget but also due to higher than expected revenue the total budgetary surplus for 2004 amounted to €2,737 million. This was the lowest level seen since 1997. The EU treaties do not allow for a budget deficit, and require the budget to be balanced each year. The annual surplus, which the Commission seeks to reduce to a minimum, is entered into the budget for the following year, reducing revenue required from Member States.

• Primary Source

European Commission: SEC(2005)650: Preliminary draft amending budget No.4 to the general budget for 2005 - General statement of revenue http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=CELEX:52005SC0650:EN:NOT

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