EU budget

The EU budget is a central pillar of the European Union and regulates the financing of its diverse programs and projects. Set up annually and fed by own resources such as customs duties, VAT shares and contributions from the member states, it covers areas ranging from agriculture to research. The Multiannual Financial Framework (MFF) defines the long-term priorities. The budget, proposed by the European Commission and approved by the Parliament and the Council, ensures that the EU has the necessary resources to achieve its policy objectives. Read the latest news on the EU budget from the Table.Briefings editorial team! What is the EU budget? The EU budget is the financial plan of the European Union that regulates its income and expenditure. It is drawn up annually and is mainly based on own resources such as customs duties, a share of VAT and contributions from the Member States based on their gross national income. Expenditure covers areas such as agriculture (common agricultural policy), cohesion policy, research, innovation, foreign policy and administration. The Multiannual Financial Framework (MFF) sets out the long-term priorities for seven years. The budget is proposed by the European Commission and approved by the European Parliament and the Council to ensure a balanced budget. Where does the EU budget revenue come from? The revenue of the EU budget comes from various sources, known as own resources: These different sources of revenue ensure that the EU has the necessary funds to finance its policy objectives and programs. The mix of own resources ensures fair and balanced funding that corresponds to the economic capacities of the Member States. What is the EU budget spent on? The EU budget is spent on a variety of areas that correspond to the political priorities and objectives of the European Union: These spending areas reflect the EU's main objectives: economic cohesion, sustainable development, security, and international cooperation. The EU budget makes it possible to achieve these objectives through targeted investments and support programs. What laws and regulations govern the EU budget? The EU budget is governed by various laws and regulations that set the framework for its establishment, approval and implementation. The most important of these include These laws and regulations form the legal foundation on which the EU budget is based and ensure that it is managed transparently, efficiently and in line with the Union's political priorities.