BRUSSELS, The European Commission Wednesday proposed the 2019 draft EU Budget of 166 billion euro (USD 189 billion) in commitments, corresponding to a 3 percent increase over 2018.
This budget is the sixth one under the current 2014-2020 long-term EU budget. It is designed to optimize funding for existing programs as well as new initiatives, noted an European Commission press release.
EU Commissioner Gunther Oettinger, in charge of Budget and Human Resources, stated that “we are proposing an ambitious budget that continues to support our priorities, in particular on investment, jobs, youth, migration, solidarity and security.” “We need stability for the EU and I look forward to reaching an agreement with Parliament and Council as soon as possible,” he added.
The proposal is based on the premise that the United Kingdom, following its withdrawal as of 30 March 2019 from the EU, will continue to contribute to and participate in the implementation of EU budgets until the end of 2020 as if it were an EU Member State, it noted.
The European Parliament and the European Union Member States will now jointly discuss this EU budget proposal.
Source: Kuwait News Agency