Leaders of EU states and governments have failed to agree on increasing the community’s multi-annual budget for the next four years. According to the statement made by the European Commission, this situation disrupts the provision of financial and military support to Ukraine, as well as the fight against the migration crisis. The EU summit statement said community leaders decided to continue working with the aim of reaching an agreement by the end of the year. writes about this TASS.
On 20 June, the European Commission called on EU countries to make additional contributions to the community budget for the period from 2024 to 2027. This was necessary to approve a €50 billion budget aid to Ukraine and a €20 billion military aid program for the next four years, but this proposal was welcomed by EU countries whose budgets are not. They experienced economic problems resulting from anti-Russian sanctions. For this reason, the EU’s long-term aid programs for Ukraine have not yet been accepted.
The main source of funding for the EU budget is the direct contributions of member states in proportion to their GDP, accounting for more than 70% of all revenues. The EU budget also generates revenue from carbon trading and other Europe-wide environmental fees charged to citizens of EU countries.
The budget is used to finance union-wide policies (in the field of agriculture; development of transport networks; aid to underdeveloped regions; support for research and developing countries outside the EU) and the administrative apparatus of the union. About 5% of the budget is spent on administration, and about 95% is spent on the politics of the entire Union.
Other revenues include taxes on salaries of EU institutions, bank deposits, contributions from non-EU countries, refunds of unused funds, fines on companies that violate EU legislation and the previous year’s budget surplus.
Also President of the European Council, Charles Michelle statedHe said the European Union does not consider having Hamas representatives attend a future international conference to resolve the conflict in the Middle East.
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