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Update of EU Budget Revenues for 2020

Summary

The European Parliament approves an update to the 2020 budget revenues to account for the economic impact of the COVID-19 pandemic. This adjustment reflects changes in expected income from various sources like VAT and GNI.
9 30.11.2020
Other
economy
finance
european union
public finance and budget policy

Key points

  • The amendment is driven by the need to adjust revenue estimates due to the economic contraction caused by the COVID-19 pandemic.
  • Estimates for Traditional Own Resources are being updated based on new economic forecasts.
  • Revenues derived from Value Added Tax (VAT) and Gross National Income (GNI) are being revised to reflect the current economic situation.
  • The budget update includes adjustments for the UK correction mechanism.
Documents (PDFs)
REPORT on the Council position on Draft amending budget No 7/2020 of the European Union for the financial year 2020 - Update of revenue (own resources) Draft amending budget No 7/2020: Update of revenue (own resources)
These raw data are provided by the Open Data Portal of the European Union (data.europa.eu) and are licensed under ODC-BY 1.0.