- 30 May 2018 8:45 AM
- Hungary Matters
The draft budget needs approval from the European Council and the European Parliament.
Under the commission’s proposal presented in early May, the European Union’s next seven-year budget would allow for commitments worth a combined 1,135 billion euros in 2018 prices.
Fully 373 billion euros of the total is planned to be spent on narrowing the gaps between and within member states, which is less than the amount allocated for cohesion policy in the 2014-2020 period.