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The European union budget (facts and challenges facing the union's fourth enlargement)

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  • Antonio Fernández

Abstract

The EU budget is set within a multi annual framework known as the Financial Perspective that has been agreed by the European institutions for 2000 - 2006 and are designed to cover expenditure for the current 15 member countries and for 10 CEECs and Cyprus which are in a process of EU membership negotiations. Within the Financial Perspective, the resources available for a future Union of 21 member countries are limited to a maximum annual ceiling equivalent to 1.27 % of the Union GNP. The budget income systém is made up of the so called traditional resources, a percentage of VAT and a resource based on the countries GNP. During the last few years each one of the income resources has gone through important reforms, some quite successful and others not.

Suggested Citation

  • Antonio Fernández, 2001. "The European union budget (facts and challenges facing the union's fourth enlargement)," Politická ekonomie, Prague University of Economics and Business, vol. 2001(1).
    • Handle: RePEc:prg:jnlpol:v:2001:y:2001:i:1:id:197
    DOI: 10.18267/j.polek.197
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