THE EXPENDITURE AND REVENUE OF THE BUDGET OF THE EUROPEAN UNION. BUDGETARY CONSEQUENCES FOR CHALLENGES WITH SECTORAL POLICIES

George Florin Ţuncu () and Ionel Măndescu ()
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George Florin Ţuncu: ”CONSTANTIN BRÂNCOVEANU” UNIVERSITY, Piteşti, Romania, Faculty of Management Marketing in Economic Affairs Rm. Vâlcea
Ionel Măndescu: “LUCIAN BLAGA” UNIVERSITY, Sibiu, Romania, Faculty of Economic Sciences

Anale. Seria Stiinte Economice. Timisoara, 2012, vol. XVIII/Supplement, 372-377

Abstract: The expenditure of the Community budget is composed of many chapters and headings. All of these are classified in six titles/heading budget sites that make up the financial perspective for the period 2007-2013. Titles that make up the financial perspective are as follows: sustainable growth; preservation and management of natural resources; citizenship, freedom, security and Justice ; EU global partner administrative expenditure compensation. The basic rules for the system of own resources are legislated by the Council decision of 7 June 2007 adopted unanimously by the Council of the EU and ratified by all Member States. Total amount collected from its own resources needed to finance the Community budget is determined by the total level of expenditure. The maximum amount of own resources shall amount to 1.23% of EU GNI. Recent consultations on the reform of the budget showed that the stakeholders in the process are critical to the current arrangement of EU revenue.

Keywords: budget; resource; GDP; VAT; expenditure policy (search for similar items in EconPapers)
JEL-codes: E60 E61 H60 H61 (search for similar items in EconPapers)
Date: 2012
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