European Union's Amending Budget for 2024

The European Parliament has adopted Amending Budget No 2/2024, which incorporates the 2023 budget surplus of €633 million. This budgetary update is necessary to accurately reflect the Union's financial situation and affects all Member States.

Context and objectives

The text is based on Article 314 of the Treaty on the Functioning of the European Union and the Financial Regulation. The main objective is to incorporate the 2023 surplus into the current budget while respecting budgetary discipline and ensuring proper financial management.

Key measures

• Incorporation of the €633 million surplus from 2023 into the 2024 budget
• Approval of lump-sum reductions for five Member States (Germany, Netherlands, Denmark, Sweden, Austria) worth €5.4 billion net
• Recognition of under-spending and positive revenue performance
• Maintenance of budgetary flexibility to address emerging priorities

Timeline and implementation

The amending budget has been definitively adopted and will be published in the Official Journal of the European Union. Implementation is immediate with continuous monitoring by European institutions and Member States.

Impact for citizens and stakeholders

The surplus reduces Member States' total contribution to the EU budget for 2024. Citizens benefit indirectly through the maintenance of European programmes. The lump-sum reductions for the five states create a redistribution of financial burden among Member States.