Draft budget for 2013 has been presented by the EC on 25 April. The next year’s budget amounts to €150.9 billion in commitments, a 2% increase on last year, in line with the current inflation rate. Payments represent €137.9 billion which amounts to an increase of 6.8 %. For the first time, the Commission proposes a de facto freezing of commitments (an increase on the level of inflation, app. 2%).
Now, the Council and the EP will have their say. In July, the Council will present its position on the draft, followed by the European Parliament. If the two legislative bodies do not agree upon the same version, the Conciliation Committee is established to come up with a joint text within 21 days. For more information click here.