EU proposes €166bn in draft budget commitments

The European Commission has proposed a 2019 draft EU Budget of €166 billion in commitments — a 3% increase on 2018 — saying it is “investing in a stronger and more resilient European economy and promoting solidarity and security on both sides of the EU’s borders.”

The proposal is based on the premise that the UK, following its planned withdrawal as of March 30, 2019, will continue to contribute to and participate in the implementation of EU budgets until the end of 2020 as if it were a member state.

The draft EU Budget 2019 includes two amounts for each programme to be financed – commitments and payments.

“Commitments” refers to the funding that can be agreed in contracts in a given year while “payments” refers to the money actually paid out.

The proposed 2019 draft EU Budget amounts to €166 billion in commitments (+3% over 2018) and €149 billion in payments (+3% over 2018).

Commissioner Günther Oettinger, in charge of budget and human resources, said: “We are proposing an ambitious budget that continues to support our priorities, in particular on investment, jobs, youth, migration, solidarity and security, and that delivers European added value for our citizens.

“We need stability for the EU and I look forward to reaching an agreement with Parliament and Council as soon as possible.”

The European Parliament and the European Union member states will now jointly discuss the proposal.

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Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.