A BRIEF LOOK AT THE BUDGETARY PROCEDURE IN THE EUROPEAN UNION AND THE RECOVERY PLAN FOR EUROPE

Ioana Nely Militaru ()
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Ioana Nely Militaru: Faculty of Law, Bucharest University of Economic Studies, Romania

Perspectives of Law and Public Administration, 2022, vol. 11, issue 1, 50-55

Abstract: The adoption of the budget of the European Union is carried out through a special legislative procedure. This is a version of the regular procedure, which is specially adapted to the particular characteristics of the budgetary process. The budgetary function in the European Union is exercised by the Council together with the European Parliament. The two institutions have equal powers in the budgetary procedure, following the Treaty of Lisbon (signed in 2007). Budgetary powers involve the determination of the total amount and distribution of the annual expenditure of the European Union as well as the revenue needed to cover it. The EU's long-term budget and NextGenerationEU (NGEU - the temporary instrument designed to stimulate recovery) will form the largest incentive package ever funded in Europe.

Keywords: European Union; budget; special legislative procedure; budgetary procedure; expenditure; revenue; Recovery Plan for Europe. (search for similar items in EconPapers)
JEL-codes: K33 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:sja:journl:v:11:y:2022:i:1:p:50-55

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