Challenges for budgetary policy of European Union

Abstract

The aim of this paper is to highlight key problems in reference to European enlargement and EU budgetary policy, as well as to analyse and evaluate the development and structure of revenue and expenditure of EU budget, to prove the necessity of undertaking the additional sources of EU budget income, targeted on solving new problems in the process of European integration and cohesion. The EU budget should contribute to a greater degree to increasing the economic, social and territorial cohesion and solidarity of the Member States, and should be up to date and flexible in responding to new challenges.

Keywords

• dynamics and structure of revenue and expenditure of the EU budget, EU budgetary reform, EU financial system