Timely approval of EU budget 2014–2020 – crucial for economic recovery

19 September 2013, Last updated at, 13:14 EEST
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author: Dž. G. Barysaitė

President Dalia Grybauskaitė met with the Chairman of the European Parliament's (EP) Committee on Budgets, Alain Lamassoure, and other committee members. The meeting focused on the issues relating to the European Union (EU) multiannual financial framework for 2014-2020 and to the next year's budget. Among the other topics of discussion was the EP's important role in adopting legislation necessary for implementing the budget.

"It is essential that the European Parliament makes no delay in giving approval to the multiannual financial perspective of the European Union, to enable timely implementation of the programmes financed from the budget. Rapid decisions are needed for Europeans to get access to the funds allocated for agriculture, reduction of youth unemployment, and for other spheres. Implementation of these programmes is crucial for economic recovery of the European Union," the President said.

The Lithuanian Presidency of the EU Council is continuing negotiations with the EP seeking approval of the Union acts pertinent to implementation of the budget. Successful completion of negotiations is one of the most important goals of Lithuania's EU Presidency.

Top leaders of the EU member states agreed on the multiannual budget for the period 2014-2020 in February this year. Political agreement was also reached with the EP at the end of June. It was decided to earmark additional funds in the budget for reducing youth unemployment, promoting research and innovation, as well as for supporting small and medium-sized enterprises.

The discussion also touched upon the next year's EU budget. Lithuania has made progress in negotiations - on 9 July agreement on the budget for the upcoming year was reached in the EU Council. The next step for the Lithuanian Presidency is to open talks with the European Parliament.

The European Union budget for the period 2014-2020 stands at 960 billion euros. Lithuania will get over 44 billion litas - 10 percent more as compared to the current budget (2007-2013).

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