Budget

The European Union's budget reflects the multiannual financial framework. It is set annually by the European Parliament and the Council (national ministers) on the basis of Commission proposals. It is managed for the Commission by the Directorate-General for Budget.

Objectives

• secure the resources needed to implement EU policies, on the basis of effective financial programming
• on behalf of the EU, borrow funds on the capital markets to finance the recovery under the NextGenerationEU instrument
• implement both revenue and expenditure in the budget
• manage the regulatory framework for the budget
• draw up the annual accounts of the EU institutions
• promote sound financial management within the Commission
• report on execution of the budget and coordinate the discharge procedure from the preparation to the follow-up of the Parliament's and Council's discharge recommendations