On Friday evening, representatives of the European Parliament and the Council reached a preliminary agreement on the European Union (EU) budget for 2024, which sets total commitments at 189.3 billion euros.
The agreement also provides for a total payment of 142.6 billion euros.
In addition to the agreement on the EU’s 2024 budget, 360 million euros remain available within the spending limits of the current multiannual financial framework for 2021-2027, which will allow the EU to “respond to unpredictable needs”, said Spain, the country’s EU Council presidency.
The agreement, which has not yet been formally approved by both organizations, protects the EU’s “political priorities.”
The pact was reached before the expiration of the conciliation period between the institutions, which ends at midnight on Monday, November 13.
In a statement, the European Commission said the agreement “will help, in particular, to address the most urgent consequences of the crisis in the Middle East in the affected countries, as well as in Europe and its neighbors.”
Brussels, however, warned that “a swift agreement on a review of the Multiannual Financial Framework is urgently needed to ensure that the necessary resources are available to cover new critical needs that cannot be financed within the budget ceilings as they currently stand.”
“This is especially necessary to enable the EU to respond to the consequences of Russia’s war of aggression in Ukraine on a sustainable basis, to ongoing migration pressure and its root causes, to the EU response to natural disasters and global competition in key critical technologies,” he added. community leader.
The European Parliament (EP) also praised the preliminary agreement reached, which adds almost 670 million euros (666.5 million) “to key priorities such as humanitarian aid, Erasmus+ and transport infrastructure,” the institution said in a statement.
The EP also stressed that “essential funding for key programs previously cut by EU governments” has been restored and, in particular, an “increase” has been achieved to be able to allocate funds to “global issues and support for youth and research.”
The European Parliament and the European Council now have 14 days to formally approve the agreement reached.
The Council is expected to approve it on November 20.