Be the first to comment!Results of the ECOFIN Council Budget for 2009
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Presided over by Eric Woerth, the French Minister for the Budget, Public Accounts and the Civil Service, the Council of the European Union for Economic and Financial Affairs has unanimously approved the draft budget of the European Communities for 2009 after a very productive meeting with the European Parliament.
Woerth welcomed this unanimity, which shows the Council’s determination to adopt a budget for 2009 that will make it possible – in a difficult economic context – to respond to the concerns of European citizens – support for growth and competitiveness, policies promoting cohesion within the EU, and Europe’s solidarity with third countries.
The Council and the Parliament reached an agreement on financing of one billion euros for the ‘food facility’, which represents a strong commitment of the European Union to support agriculture in developing countries. This facility is a practical response to the food crisis.
This draft budget, balanced and mindful of proper management of Community funds, provides for 133.7 billion euros in commitment appropriations and 116.1 billion euros in payment appropriations, and allows funding for the EU’s main priorities, namely the conservation and management of natural resources, cohesion, competitiveness, and the EU’s external actions.
The Council and the European Parliament also agreed on six joint statements, notably in the aim of facilitating, in the current context, the implementation of structural funds and major projects, which are essential for supporting economic growth, and increasing the visibility of Community action with regard to development aid.
The Economic and Financial Affairs Council is, together with the Agriculture Council and the General Affairs Council, one of the oldest configurations of the Council. It is commonly known as the Ecofin Council, or simply “Ecofin” and is composed of the Economics and Finance Ministers of the Member States, as well as Budget Ministers when budgetary issues are discussed.
