Amending Budget No 7/2020: Update of revenue (own resources)

30-09-2020

The purpose of Draft Amending Budget No 7/2020 (DAB 7/2020) is to update the revenue side of the budget, taking into account the latest economic developments. Due to the coronavirus pandemic, the outlook for the European economy has changed significantly since the budget was adopted. DAB 7 proposes the following adjustments on the revenue side of the 2020 budget: an update of the estimates for traditional own resources, the own resources based on the value added tax and gross national income. Further updates concern the United Kingdom correction, other revenue taking into account paid-up fines and penalty payments up to June 2020, as well as negative exchange rate differences. The European Parliament is expected to vote on the Council's position on DAB 7/2020 during the October I plenary session.

The purpose of Draft Amending Budget No 7/2020 (DAB 7/2020) is to update the revenue side of the budget, taking into account the latest economic developments. Due to the coronavirus pandemic, the outlook for the European economy has changed significantly since the budget was adopted. DAB 7 proposes the following adjustments on the revenue side of the 2020 budget: an update of the estimates for traditional own resources, the own resources based on the value added tax and gross national income. Further updates concern the United Kingdom correction, other revenue taking into account paid-up fines and penalty payments up to June 2020, as well as negative exchange rate differences. The European Parliament is expected to vote on the Council's position on DAB 7/2020 during the October I plenary session.