| Author (Corporate) | European Commission |
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| Publication Date | 2019- |
| Content Type | Policy-making |
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Summary: The documents related to the adoption, implementation and accounting of the 2020 EU annual budget. Further information: The European Commission published on 5 July 2019 its proposal for the annual budget for the European Union relating to 2020, amounting to €168.3 billion. It followed up on the release of a statement of estimates in June. This is the seventh and last budget under the 2014-2020 Multiannual Financial Framework (MFF), and operates within the limitations set therein. It was designed to optimise funding for existing programmes as well as new initiatives and to boost the European added value in line with the priorities set by the Juncker Commission. The EU budget is primarily an investment budget. Amounting to roughly 1% of EU GNI, and representing around 2% of all EU public spending, it aims to complement national budgets and implement priorities which all EU members have agreed upon. The proposal was based on the assumption that the United Kingdom participates fully in the implementation and financing of the 2020 EU budget as if it were a Member State. The Committee of Representatives of the Council of the European Union adopted its position on the proposed annual budget on 10 July. This position was confirmed by the Council on 3 September. The European Parliament's budgets committee voted on its position regarding the draft annual budget on 1 October, and then confirmed in plenary session on 23 October. The Council announced on the same day it could not agree with the Parliament's position, triggering a period of conciliation talks. On 18 November, the co-legislators announced they had reached an informal compromise agreement on the proposed annual budget for 2020. This was formally endorsed by the Council on 25 November, followed by the European Parliament on 27 November. |
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| Source Link | Link to Main Source https://ec.europa.eu/info/strategy/eu-budget/documents/annual-budget/2020_en |
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| Subject Categories | Economic and Financial Affairs |
| Subject Tags | EU Budget |
| International Organisations | European Union [EU] |
