European Union lawmakers have
endorsed the European Union’s 2008
budget worth EUR120.3 billion and
including extra funding for the bloc’s
Galileo satellite navigation network.
Approval comes after European
Parliament negotiators and EU
member states reached an agreement
in November to pump extra public
money into the Galileo project, which
risked collapse without it. The EU has
agreed to inject an extra EUR2.4 billion
into the program over the 2007-2013
period, with EUR1.6 billion coming
from unused EU agriculture subsidies.
Lawmakers at the European Parliament
also approved a sharp rise in spending
on the E.U.’s Common Foreign and
Security Policy, which will reach
EUR285 million in 2008, EUR125
million more than this year.
The E.U.’s joint budget will be 4.15%
bigger next year, in terms of payment appropriations, representing 0.96% of
gross national income in the area. |