On Wednesday, the 22nd of November, the European Parliament voted for the European Union’s budget for 2024. 519 MEPs voted in favour of the budget, 79 were against, and 30 abstained in the vote.
The new budget will focus on research, youth and external challenges.
European Parliament’s press-secretary in Latvia Jānis Krastiņš reports the total budget for 2024 is EUR 189.4 billion in “commitments” and EUR 142.6 billion in “payments”. Because the EU policy and operations have to be planned many years in advance, the EU budget has commitment allocations (all legal payment obligations contracted for in a given year) and funding allocations (funds actually paid out in a given year) listed separately.
The main and highest EU executive institution [but which does not have legislative initiative] – Council of Europe, which is composed of ministers representing EU member states’ governments, approved the budget on the 20th of November.
The European Parliament’s press-release mentions that in legislative talks [with member states] about EU’s budget for next year, the parliament managed to secure greater support to deal with global problems, as well as support youngsters and research.
Nearly EUR 670 million will be allocated towards main priorities,
such as humanitarian aid, Erasmus+ programme and transport infrastructure.
MEPs agreed on another EUR 250 million to be diverted towards EU humanitarian aid efforts, additional EUR 150 million towards Neighbourhood, Development and International Cooperation Instrument, additional EUR 85 million towards Horizon Europe programme, EUR 30 million towards transport infrastructure (Connecting Europe Facility).
Aside from all that, Erasmus+ programme will receive another EUR 60 million, LIFE programme will receive EUR 20 million, emerging farmers will receive EUR 20 million in funding, EU Civil Protection Mechanism will receive EUR 10 million, and military mobility efforts will receive EUR 10 million.
Krastiņš also said that, according to EP priorities, they also increased funding for programmes that assist with post-pandemic recovery, battle antisemitism and contribute to green transition efforts.
Also read: EU Commissioner: Latvia’s planned expenditures growth is more rapid than EC’s recommended
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