amending budget no 5 to the general budget 2024: Adjustment in payment appropriations, update of revenues and other technical updates
This legislative act adjusts the European Union's budget for 2024, primarily by increasing spending commitments and payments, and updating revenue sources. The budget changes affect various EU funds and programs, including the European Regional Development Fund and the Common Agricultural Policy, as well as specific agencies like eu-LISA and EUAA. Key changes include a significant increase in payment appropriations, partly funded by substantial fines, such as a competition fine from Google, and the introduction of new budget lines for a Ukraine Loan Cooperation Mechanism. The adjustments also address increased salary costs and pension obligations across EU institutions and agencies, with efforts made to cover these through internal measures and specific financial instruments.
Analysis
Draft amending budget No 5/2024 aims to adjust expenditure, particularly payment appropriations, and update revenue for the Union budget.
What changes
- Draft amending budget No 5/2024 proposes a net increase of EUR 44.5 million in commitment appropriations and EUR 2.95 billion in payment appropriations.
- Definitive fines and penalties paid up to October 2024, totalling EUR 2.82 billion, are entered into the 2024 budget, requiring additional GNI contributions.
- New budget lines for the Ukraine Loan Cooperation Mechanism are established to provide support through loans serviced by future revenues from immobilised Russian sovereign assets.
Expected impact
- The inclusion of definitive fines and penalties as revenue means additional GNI contributions are required to meet payment needs.
- Increased payment appropriations for the European Regional Development Fund and the Common Agricultural Policy suggest improved programme implementation.
- The Ukraine Loan Cooperation Mechanism will provide support through loans serviced and repaid by future revenues from immobilised Russian sovereign assets.
Limitations
- The document does not provide specific figures for the total amount of compensatory interest to be included as negative revenue in the 2025 budget.
- The document does not detail the exact amount of additional appropriations for eu-LISA or the exact decrease for EUAA.
- The document does not specify the precise amount of the 1.7% increase in the Union contribution for decentralised agencies that could not find resources through redeployments.
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