2024 European Union budget

 

SUMMARY OF:

Definitive adoption (EU, Euratom) 2024/207 of the European Union’s annual budget for the financial year 2024

WHAT IS THE AIM OF THE ACT?

It is the text agreed by the European Parliament and the Council of the European Union adopting the European Union (EU) budget for 2024.

This is set at €189.4 billion in spending commitments* and €142.7 billion in payment* credits.

KEY POINTS

The budget mobilises significant public funds to ensure funding throughout the year for the EU’s headline priorities:

• a European Green Deal;
• a Europe fit for the digital age;
• an economy that works for all;
• promoting our European way of life;
• a stronger Europe in the world;
• a new push for European democracy;
• help to address the most urgent consequences of the crisis in the Middle East in the countries concerned, Europe and neighbouring areas.

The main areas of expenditure are the following.

	Commitments (million €)	Payments (million €)
Single market, innovation and digital	21,493.4	20,828.0
Cohesion, resilience and values Economic, social and territorial cohesion Resilience and values	74,560.7 64,665.2 9,895.5	33,716.0 24,155.7 9,560.3
Natural resources and environment Market-related expenditure and direct payments	57,388.6 40,517.3	54,151.4 40,505.5
Migration and border management	3,892.7	3,249.0
Security and defence	2,321.2	2,035.4
Neighbourhood and the world	16,230.0	15,291.2
European public administration	11,988.0	11,988.0
Thematic special instruments to enable the EU to mobilise the necessary funds to react to unforeseen events	2,221.7	1,734.5
Total appropriations	189,385.4	142,630.3

The budget identifies the following specific priority commitments.

• €16.2 billion to support the EU’s neighbours and international development and cooperation. This includes targeted increases for the humanitarian aid programme (€1.9 billion) to address crises around the world and funding for the Neighbourhood, Development and International Cooperation Instrument – Global Europe (€11.5 billion), focusing on migration in the southern neighbourhood and root causes of African migration.
• €53.7 billion for the common agricultural policy, and €1.1 billion for the European Maritime, Fisheries and Aquaculture Fund for farmers and fishers and to strengthen the resilience of the agri-food and fisheries sectors and responses to any crises.
• €47.9 billion for regional development and cohesion to support economic, social and territorial programmes and infrastructure underpinning the green transition.
• €13.6 billion for research and innovation, including €12.9 billion for Horizon Europe and financing for the European Chips Act.
• €4.6 billion for European strategic investments, including €2.7 billion for the Connecting Europe Facility to improve cross-border infrastructure, €1.3 billion for the digital Europe programme and €348 million for InvestEU (research and innovation, twin green and digital transitions, health sector and strategic technologies).
• €2.3 billion for space expenditure, mainly within the European space programme.
• €21.9 billion for people, social cohesion and values, with €16.8 billion for the European Social Fund, €3.8 billion for Erasmus+ to create education and travel opportunities, €335 million for artists and creators and €261 million to promote justice, and rights and values.
• €3.3 billion to meet rising borrowing costs for NextGenerationEU.
• €2.4 billion for environment and climate action, with €765 million for the LIFE programme to support mitigation and adaptation and €1.5 billion for the Just Transition Fund.
• €2.2 billion to protect the EU’s frontiers, including €1.2 billion for the Integrated Border Management Fund and €859 million for the European Border and Coast Guard Agency.
• €1.7 billion for migration-related spending, including €1.2 billion to support migrants and asylum-seekers.
• €1.6 billion for defence, shared between capability development and research under the European Defence Fund (€638 million), military mobility (€251 million), the new short-term defence programme (€260 million) and ammunition production (€343 million).
• €958 million for the single market, including €602 million for the single market programme and €200 million for anti-fraud, taxation and customs.
• €754 million for the EU4Health programme and €240 million for the EU’s Civil Protection Mechanism.
• €733 million for security, of which €322 million for the Internal Security Fund to combat terrorism, radicalisation, antisemitism, organised crime and cybercrime.

FROM WHEN DOES THE BUDGET APPLY?

It has applied since 1 January 2024.

BACKGROUND

The 2024 budget is the fourth under the 2021–2027 long-term budget (the multiannual financial framework) set up under Regulation (EU, Euratom) 2020/2093, which will provide €1,074 trillion of EU funding over 7 years.

The budget is complemented by the EU Recovery Instrument NextGenerationEU to help the EU recover from the COVID-19 pandemic.

The European Commission, while welcoming approval of the 2024 budget in November 2023, emphasised the need to revise the multiannual financial framework spending limits to ensure the EU has sufficient funds to help Ukraine defend itself against Russian aggression and to tackle migratory pressures, natural disasters and global competition in key technologies.

For further information, see:

• EU budget (European Commission).

KEY TERMS

MAIN DOCUMENT

Definitive adoption (EU, Euratom) 2024/207 of the European Union’s annual budget for the financial year 2024 (OJ L, 2024/207, 22.2.2024).

RELATED DOCUMENTS

Regulation (EU) 2023/1525 of the European Parliament and of the Council of 20 July 2023 on supporting ammunition production (ASAP) (OJ L 185, 24.7.2023, pp. 7–25).

Regulation (EU) 2023/2418 of the European Parliament and of the Council of 18 October 2023 on establishing an instrument for the reinforcement of the European defence industry through common procurement (EDIRPA) (OJ L, 2023/2418, 26.10.2023).

Joint communication to the European Parliament and the Council: Action plan on military mobility 2.0 (JOIN(2022) 48 final, 10.11.2022).

Regulation (EU) 2021/1153 of the European Parliament and of the Council of 7 July 2021 establishing the Connecting Europe Facility and repealing Regulations (EU) No 1316/2013 and (EU) No 283/2014 (OJ L 249, 14.7.2021, pp. 38–81).

Regulation (EU) 2021/1147 of the European Parliament and of the Council of 7 July 2021 establishing the Asylum, Migration and Integration Fund (OJ L 251, 15.7.2021, pp. 1–47).

Successive amendments to Regulation (EU) 2021/1147 have been incorporated into the original text. This consolidated version is of documentary value only.

Regulation (EU) 2021/1148 of the European Parliament and of the Council of 7 July 2021 establishing, as part of the Integrated Border Management Fund, the Instrument for Financial Support for Border Management and Visa Policy (OJ L 251, 15.7.2021, pp. 48–93).

Regulation (EU) 2021/1149 of the European Parliament and of the Council of 7 July 2021 establishing the Internal Security Fund (OJ L 251, 15.7.2021, pp. 94–131).

Regulation (EU) 2021/1139 of the European Parliament and of the Council of 7 July 2021 establishing the European Maritime, Fisheries and Aquaculture Fund and amending Regulation (EU) 2017/1004 (OJ L 247, 13.7.2021, pp. 1–49).

Regulation (EU) 2021/1058 of the European Parliament and of the Council of 24 June 2021 on the European Regional Development Fund and on the Cohesion Fund (OJ L 231, 30.6.2021, pp. 60–93).

See consolidated version.

Regulation (EU) 2021/947 of the European Parliament and of the Council of 9 June 2021 establishing the Neighbourhood, Development and International Cooperation Instrument – Global Europe, amending and repealing Decision No 466/2014/EU of the European Parliament and of the Council and repealing Regulation (EU) 2017/1601 of the European Parliament and of the Council and Council Regulation (EC, Euratom) No 480/2009 (OJ L 209, 14.6.2021, pp. 1–78).

See consolidated version.

Regulation (EU) 2021/817 of the European Parliament and of the Council of 20 May 2021 establishing Erasmus+: the Union Programme for education and training, youth and sport and repealing Regulation (EU) No 1288/2013 (OJ L 189, 28.5.2021, pp. 1–33).

Regulation (EU) 2021/818 of the European Parliament and of the Council of 20 May 2021 establishing the Creative Europe Programme (2021 to 2027) and repealing Regulation (EU) No 1295/2013 (OJ L 189, 28.5.2021, pp. 34–60).

Regulation (EU) 2021/783 of the European Parliament and of the Council of 29 April 2021 establishing a Programme for the Environment and Climate Action (LIFE), and repealing Regulation (EU) No 1293/2013 (OJ L 172, 17.5.2021, pp. 53–78).

Regulation (EU) 2021/694 of the European Parliament and of the Council of 29 April 2021 establishing the Digital Europe Programme and repealing Decision (EU) 2015/2240 (OJ L 166, 11.5.2021, pp. 1–34).

See consolidated version.

Regulation (EU) 2021/695 of the European Parliament and of the Council of 28 April 2021 establishing Horizon Europe – the Framework Programme for Research and Innovation, laying down its rules for participation and dissemination, and repealing Regulations (EU) No 1290/2013 and (EU) No 1291/2013 (OJ L 170, 12.5.2021, pp. 1–68).

See consolidated version.

Regulation (EU) 2021/696 of the European Parliament and of the Council of 28 April 2021 establishing the Union Space Programme and the European Union Agency for the Space Programme and repealing Regulations (EU) No 912/2010, (EU) No 1285/2013 and (EU) No 377/2014 and Decision No 541/2014/EU (OJ L 170, 12.5.2021, pp. 69–148).

Regulation (EU) 2021/697 of the European Parliament and of the Council of 29 April 2021 establishing the European Defence Fund and repealing Regulation (EU) 2018/1092 (OJ L 170, 12.5.2021, pp. 149–177).

See consolidated version.

Regulation (EU) 2021/690 of the European Parliament and of the Council of 28 April 2021 establishing a programme for the internal market, competitiveness of enterprises, including small and medium-sized enterprises, the area of plants, animals, food and feed, and European statistics (Single Market Programme) and repealing Regulations (EU) No 99/2013, (EU) No 1287/2013, (EU) No 254/2014 and (EU) No 652/2014 (OJ L 153, 3.5.2021, pp. 1–47).

Regulation (EU) 2021/522 of the European Parliament and of the Council of 24 March 2021 establishing a Programme for the Union’s action in the field of health (‘EU4Health Programme’) for the period 2021-2027, and repealing Regulation (EU) No 282/2014 (OJ L 107, 26.3.2021, pp. 1–29).

Regulation (EU) 2021/523 of the European Parliament and of the Council of 24 March 2021 establishing the InvestEU Programme and amending Regulation (EU) 2015/1017 (OJ L 107, 26.3.2021, pp. 30–89).

See consolidated version.

Regulation (EU) 2021/241 of the European Parliament and of the Council of 12 February 2021 establishing the Recovery and Resilience Facility (OJ L 57, 18.2.2021, pp. 17–75).

See consolidated version.

Council Regulation (EU, Euratom) 2020/2093 of 17 December 2020 laying down the multiannual financial framework for the years 2021 to 2027 (OJ L 433I, 22.12.2020, pp. 11–22).

See consolidated version.

Council Regulation (EU) 2020/2094 of 14 December 2020 establishing a European Union Recovery Instrument to support the recovery in the aftermath of the COVID-19 crisis (OJ L 433 I, 22.12.2020, pp. 23–27).

Communication from the Commission to the European Parliament, the European Council, the Council, the European Economic and Social Committee and the Committee of the Regions – The European Green Deal (COM(2019) 640 final, 11.12.2019).

Council Regulation (EC) No 1257/96 of 20 June 1996 concerning humanitarian aid (OJ L 163, 2.7.1996, pp. 1–6).

See consolidated version.

last update 10.07.2024