Agreement will assure finance for the EU’s objectives for next year and has been welcomed by the EU Commission. The budget agreement for 2024 calls for €189.4 billion in obligations and €142.6 billion in payments. The budget for 2024 will continue to support Europe’s continued economic recovery while maintaining its strategic autonomy. Green and digital expenditure will be prioritized in order to make Europe more resilient and future-ready, especially through NextGenerationEU.
The European Parliament and the Council of the European Union have agreed on the EU budget for 2024, which will assist handle the most pressing implications of the Middle East crisis in the countries involved, as well as in Europe and its neighbors.
The 2024 budget contributes to tackling the most pressing demands, such as the problems posed by the Middle East crisis, in particular by increasing humanitarian aid by €250 million, which may be made available relatively rapidly. Furthermore, the increased financing will provide aids and assistance to the nations and regions involved, while migration remains a top issue in both the Member States and the wider neighbourhood.
The EU budget for 2024 offers critical support to the Union’s strategic goals, including driving Europe’s continued economic recovery and job creation, as well as encouraging green and digital transitions for a more secure and resilient Europe that plays a strong role in the world.
Swift agreement on the Multiannual Financial Framework (MFF) revision, as suggested by the Commission in June 2023, is urgently required in order to provide the necessary resources for critical new demands that cannot be supported under the MFF ceilings as they presently stand. This is especially important in order for the EU to respond on a firm footing to the effects of Russia’s actions in Ukraine, the ongoing migration pressures and their core causes, EU response to natural catastrophes, and global competition on key essential technologies.
Agreement, which will assure finance for the EU’s objectives for next year, has been welcomed by the Commission. The budget agreement for 2024 calls for €189.4 billion in obligations and €142.6 billion in payments. The budget for 2024 will continue to support Europe’s continued economic recovery while maintaining its strategic autonomy. Green and digital expenditure will be prioritised in order to make Europe more resilient and future-ready, especially through NextGenerationEU.
Significant allocations included €16.2 billion for neighbouring countries and international development and collaboration, €13.6 billion for research and innovation, €53.7 billion for the Common Agricultural Policy, and €47.9 billion for regional development and cohesion.
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