European Commission proposes changes to the EU budget for 2024

 The European Commission adopted a proposal to amend the EU budget for 2024 to reflect the changes made following the agreement between the European Parliament and the Council on the revision of the Multiannual Financial Framework (MFF) for 2021-2027.

This amended budget will enable the Union to continue delivering this year on the EU’s common priorities, for the benefit of European citizens and beyond. In particular, it will reinforce our support to Ukraine, boost investments in critical technologies and defence, and provide additional resources to support partners in the Western Balkans. Thanks to this amendment, the EU budget will be also better equipped to help Member States affected by natural disasters and countries facing humanitarian crises.

This amendment of the Annual EU budget 2024 amounts to an increase of more than €5.8 billion covering the following elements:

• Reinforcement of the Ukraine Facility and mobilisation of the Ukrainian Reserve, with an amount of €4,8 billion;
• Reinforcement of the European Defence Fund within the framework of the Strategic Technologies for Europe Platform by €376 million;
• Reinforcement of the European Solidarity Reserve and the Emergency Aid Reserve (former Solidarity and Emergency Aid Reserve) by €365 million;
• Reinforcement of the Reform and Growth Facility for the Western Balkans, by €501 million, pending the adoption by the co-legislators of the Commission proposal;
• Adaptation of the reserve for the European Globalisation Adjustment Fund for Displaced Workers to actual needs in recent years.

Next steps

The Commission has submitted the Draft Amending Budget (DAB) to the European Parliament and the Council, for their approval.

EU long-term budget for 2021-2027: Council concludes the mid-term revision

Background

The EU has faced a series of unprecedented and unexpected challenges since the adoption of the 2021-2027 long-term EU budget in 2020 – from Russia’s brutal invasion of Ukraine and its consequences, through the migration pick-up after the COVID-19 pandemic, and the acceleration in inflation and interest rates.

The EU budget has been instrumental in powering the EU response. Addressing these multiple challenges has pushed its resources to the point of exhaustion, hindering its capacity to address even the most urgent challenges.

To ensure the EU budget can continue to deliver on the most essential objectives, the Commission proposed in June 2023 to reinforce the EU’s long-term budget. On 1 February 2024, EU leaders confirmed all priorities of the Commission’s proposal and agreed on the first-ever revision of the EU’s long-term budget, the creation of the Ukraine Facility and STEP. This package was also agreed with the European Parliament, leading to the entry into force of the revised MFF Regulation on 1 March 2024.

The DAB is operationalising the revision of the MFF for the year 2024, as agreed by the European Parliament and the Council in November 2023.

More information: European Commission