selection

budget policy

This tag is associated with 11 posts

How the EU budget is spent: European Fund for Sustainable Development

The European Fund for Sustainable Development (EFSD) is one of the EU financial instruments that promote a proactive development aid policy. It covers three areas of activity (‘pillars’): financing, providing technical assistance for the development of bankable projects, and helping to improve the business environment in partner countries through dialogue. Continue reading

Digital Europe programme: Funding digital transformation beyond 2020 [EU Legislation in Progress][Policy Podcast]

In the framework of the next long-term EU budget for 2021-2027, the Commission is proposing a new, €9.2 billion programme to build up digital capacity and infrastructure and support a digital single market. Continue reading

Performance-based Budgeting: A means to improve EU spending in the 2021-2027 MFF?

Following the publication of the study on ‘Performance budgeting: A means to improve EU spending’, an EPRS roundtable discussion was held in the European Parliament library on 5 June 2018. Speakers, including Martina DLABAJOVÁ (ALDE, Czech Republic, Vice-President of EP Committee on Budgetary Control), Maria Rosa ALDEA BUSQUETS (Deputy Director-General, DG Budget, European Commission), Joël COSTANTZER (Principal Auditor, Financing and Administering the Union, European Court of Auditors) and Magdalena SAPAŁA (Policy Analyst, Budgetary Policies Unit, EPRS), contributed to the lively discussion. EPRS Director Etienne BASSOT delivered a welcoming speech, while the event was moderated by Fabia JONES, acting head of the EPRS Budgetary Policies Unit. Continue reading

Performance budgeting: A means to improve EU spending

In 2015, the European Commission launched an initiative entitled, ‘The EU budget focused on results’. The initiative is aimed at changing spending culture and making results a horizontal priority for the EU budget, by paying as much attention to funds’ performance, efficiency and effectiveness as to their absorption and compliance with financial rules. Continue reading

A fiscal capacity for the euro area? Options for reforms to counter asymmetric shocks

The idea to create a ‘fiscal capacity’ for the euro area was launched in the wake of the sovereign debt crisis, with the recognition that weaknesses in the Economic and Monetary Union (EMU) had worsened the crisis. Although the debate has lost some momentum as euro-area countries have stepped back from the acute phase of the crisis, the EU institutions continue to work on designing a framework to bolster EMU, looking in particular at automatic stabilisers. The European Parliament’s Committees on Budgets and Economic and Monetary Affairs are currently preparing a report on a budgetary capacity for the euro area. Continue reading

How the EU budget is financed – The “own resources” system and the debate on its reform

The system of “own resources” ensures the EU is able to finance its policies. In 2012, total EU revenue amounted to €139.5 billion. Successive reforms have determined the system’s current configuration, which relies on three key streams of revenue: traditional own resources (mainly customs duties); a resource based on value added tax (VAT); and a resource related to Member … Continue reading

Austerity, labour market and international treaties. Cases of four EU countries in receipt of financial assistance

Due to the global financial crisis and the European sovereign debt crisis several European countries (in particular Greece, Ireland Portugal and Spain) were forced to ask for financial assistance. In return they had to commit to implement so-called austerity measures aimed at reducing their budget deficits. These countries also agreed to implement structural changes such as labour market reforms in order to improve their competitiveness. … Continue reading

EU budget for growth and employment – In Focus

The EU has recently set its budgetary priorities for the next seven years, adopting the 2014-20 Multiannual Framework Programme (MFF). Two briefings present the key points of the agreement and its flexibility provisions allowing some additional room for maneuver in multi-year planning to promote growth and to fight unemployment. Overall, the 2014-20 MFF allocates up … Continue reading

Social dimension of austerity measures: Cases of four EU countries in receipt of financial assistance

The economic and financial crisis has been affecting the EU since 2008. The effects of growing budgetary deficits have included the increase in governments’ borrowing costs to unsustainable levels in Greece, Portugal, Ireland and Spain, forcing them to request financial assistance. In return, they committed themselves to reducing the deficits through spending cuts and increases … Continue reading

The “Flexibility Instrument” of the EU budget

If multi-year financial planning includes strict expenditure limits, it can be difficult to deal with unforeseen events or new priorities. In case of need, the EU can resort to its Flexibility Instrument (FI), which has, up to now, been used mainly for external action and competitiveness policies. The maximum annual budget of the FI is … Continue reading

Rationale behind a euro area “fiscal capacity”: Possible instruments including a dedicated budget

The sovereign debt crisis exposed weaknesses in the economic and monetary union (EMU), the integration process that brought the creation of the euro. MemberStates and EU institutions have taken several measures to tackle these shortcomings, including stricter rules on economic governance and setting up the European Stability Mechanism. Ideas to further strengthen EMU include the … Continue reading

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