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Thursday, 05 December 2013

2014 EU budget deal agreed

A package deal comprising the 2014 EU budget and the financing of EUR 400.5 million to remediate flood and drought damages in four member states was agreed on 12 November by the Council and the European Parliament at a meeting of the Conciliation Committee. The Parliament and the Council struck a deal early which remedies payments shortfalls in in the current fiscal year. This was a prerequisite for Parliament to approve the MFF, because Members of European Parliament (MEPs) wanted to prevent the EU from starting the first year under the new MFF with a deficit.
"I believe that today's agreement on the 2014 EU budget is a good start for the new programming period", said Vice-Minister for Finance of Lithuania and President of the Council Algimantas Rimkunas. "I'm glad that we could reach an agreement with the European Parliament on the financing of priority areas such as growth, employment, innovation and humanitarian aid. We also agreed to reinforce the financing on migration, FRONTEX, the European Asylum Support Office, Europol and the three supervisoryauthorities which are important for the proper implementation of the Economic and Monetary Union."
The agreement on the 2014 EU budget, which is the first under the multiannual financial framework (MFF) for 2014-2020, meets three objectives:

  • it preserves member states' budgets from additional pressure which might force them to strengthen their consolidation efforts at national level by setting the level of funds significantly below the 2013 budget;
  • it leaves sufficient margins under the MFF ceilings to allow the EU to cope with unforeseen situations;
  • it ensures that European taxpayers' money is spent on the most urgent political priorities, notably on measures to boost growth and create jobs, in particular for young people.

MEPs also ensured that the EU will compensate victims of 2013 catastrophic flooding (in Germany, Austria and the Czech Republic) and drought (Romania)  and that Parliament’s priorities for 2014 in areas such as employment, research and innovation, border management and humanitarian aid are also taken on board. The 2014 budget deal sets payments at €135.5 billion and commitments at €142.6 billion.

Source: the Council of the EU and the European Parliament