The European Council announced that a consensus was reached in the 2022 budget negotiations with the European Parliament (EP). The budget will prioritize areas such as economic recovery, combating climate change, green and digital transformation.
After the consensus on the budget, the EU Council and the EP have to officially approve the budget agreement. In the EU budget in 2021, revenues were determined as 164.3 billion euros and expenditures were determined as 166.1 billion euros.
A significant part of the budget, which is used to realize the political and economic goals jointly determined by the EU member states, aims to strengthen the economic and political integration among the member states. In the EU budget, income items are largely from the resources provided by the member states, while the expenditures are agricultural, economic and structural. funds consist of research, education, foreign relations, enlargement and administrative expenses. The audit of the EU budget is carried out by the European Court of Auditors based in Luxembourg.
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