sAccording to the annual report of the Economic Commission for Africa on the EU budget for 2020, auditors see it as “giving a positive opinion on the credibility of the EU’s accounts for fiscal year 2020”.
The court also notes that “the 2020 revenue was lawful, regular and free of material error,” but notes that for spending as a whole, it estimates “the level of error is between 1.8% and 3,6%.”, where the midpoint of this range was , formerly known as the “most likely error rate,” is 2.7%, unchanged from 2019.
Regarding high-risk expenses (which are mainly reimbursable), where beneficiaries often have to follow complex rules when making claims for the costs they incur, the court estimates the error level to be 4.0%, which is low compared to 4.9% in 2019.
For 2020, the total revenue amounted to 174.3 billion euros, most of which was paid by member states (123 billion euros) in proportion to the gross national income (BNB).
Other sources include customs duties (19.9 billion euros), the contribution based on the value-added tax imposed by member states (17.2 billion euros), as well as contributions and refunds arising from EU agreements and programs (8.2 billion euros).
In 2020, total spending amounted to €173.3 billion, equivalent to 1.1% of the total gross national income of the European Union 27 and the United Kingdom, which has since left the European bloc.
Looking at budget items, in 2020, the area of “natural resources” captured the majority of the court’s general scrutiny audience (40.8%), followed by the area of “cohesion” (32.8%) and “competitiveness” (11.0%).
The reviewers further noted that the COVID-19 pandemic “will have a significant impact on the amount of money that the EU will spend in the coming years,” noting that for the period 2021-2027, the co-financing allocation to the EU’s Next Generation Instrument has doubled over the multi-year financial framework. approximately compared to the previous framework (2014-2020) and will amount to 1,824 billion euros.
Portuguese European Chefs Association member Joao Figueiredo died in Lisbon on June 29, and has yet to be replaced.
Read also: TdC praises the benefits of Portuguese as an official language for courts
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Charlotte Whitmore is a contributor at Mediarunsearch.co.uk, covering a broad range of topics including news, politics, business, technology, sport, entertainment, and lifestyle. She focuses on delivering clear, balanced reporting and practical information that helps readers stay informed about current events and emerging developments. Her work highlights stories that matter to everyday audiences, with an emphasis on accuracy, relevance, and accessible journalism that keeps readers connected to the issues shaping the UK and beyond.