MEPs boost the 2024 EU budget to tackle the fallout from Russia’s war against Ukraine, support SMEs, young people and research, and bolster the EU’s strategic autonomy.

MEPs say that the new geopolitical and economic context, “coupled with the worsening climate and biodiversity crisis”, has given rise to “new policy needs”. They recall the limits of the EU’s current financial setup and align their position on the 2024 budget with their stance on the proposed mid-term revision of the EU’s long-term budget (MFF, multiannual financial framework), which Parliament expects to inject up to €75.8 billion into the EU budget over the period 2024-2027.

Drawing from this planned top-up, MEPs bolster initiatives to improve the EU’s strategic autonomy in 2024, but also humanitarian aid, migration and external assistance. They say that the “revised MFF regulation must provide the framework for the 2024 budget”. Member states have yet to agree on a common position on the revision.

Boosting key EU programmes, restoring funding for key programmes cut by EU governments

Parliament also reversed the cuts made by the Council in its negotiating stance (€772 million) to the level of the original draft budget proposed by the Commission. They have also increased funding for programmes and policies, which they see as vital for addressing the consequences of the war in Ukraine and high energy prices. This will further aid post-pandemic recovery and fortify the green transition, and support young people with a boost for Erasmus+, to account for higher inflation and higher living costs and make the programme accessible to all.

Source EC press .