The EU ended 2011 with a budget surplus of 1%
The European Union has closed last year with a budget surplus of 1%, equivalent to 1,490 million euros, which will reduce future contributions from Member States to the budget of the bloc.
In total, the budget for 2011 amounted to 123,000 million euros and the surplus recorded, the lowest in recent years has implemented 99% of it.
The surplus of 1% has been produced mainly by fines in the area of competence have charged late last year (700 million) and other income in various parts of the budget (about 700 million euros).
European Commissioner for Budget, Janusz Lewandowski, recalled finally the small surplus has occurred even though the European Commission warned late last year of struggling to pay bills that arrived in December.
On the one hand it is difficult to relocate funds in the EU budget and secondly the budget process is slow and resources that you enter at the end of a fiscal year may not always be computed until the end of it.
Therefore, the Commission stresses the need for Member States and the European Parliament agreed the budget flexibility to adapt EU “closer to reality.”
“Unfortunately we have not achieved the flexibility we need to react quickly to new developments. With the current rigid rules, to reach a surplus of 1% is the best result possible,” said Lewandowski.
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