Amending Budget for 2024: Financial Adjustments for Current Needs

The European Parliament has adopted Amending Budget No. 5/2024 to adapt the EU budget to recent developments. This financial adjustment responds to increased funding needs and additional revenue from fines. All EU citizens are indirectly affected through funded programmes.

Context and objectives

The amending budget is based on EU treaties and the multiannual financial framework 2021-2027. The main objective is to adjust expenditure and revenue for 2024, taking into account unforeseen developments and the need to support key programmes.

Key measures

• Net increase of €44.5 million in commitment appropriations and €2.95 billion in payment appropriations
• Incorporation of revenue from fines and penalties of €2.82 billion
• Creation of budget lines for the Ukraine loan mechanism
• Additional allocations for EU agencies affected by cost increases
• Measures to cover higher than expected salary and pension costs
• Funding for cybersecurity following the attack on CEPOL

Timeline and implementation

The amending budget enters into force immediately upon publication in the EU Official Journal. The European Commission will manage implementation, while Parliament and Council will monitor compliance with provisions. Adjustments apply for the remainder of 2024.

Impact for citizens and stakeholders

Citizens will benefit from accelerated implementation of regional and agricultural programmes. The Ukraine mechanism ensures continuous financial support. EU agencies will receive resources to fulfil their mandates. Attention is needed for reforming the own resources system for long-term budgetary stability.