DEFINING ELEMENTS OF BUDGETARY REFORM AT EUROPEAN UNION LEVEL

Abstract

The budget of the European Union is a topic of great interest, knowing the European Council concern for the reform and finding new budgetary resources to strengthen public finances. Absorption of structural funds and cohesion is a goal of each European Union Member State. But the fulfillment of all the required conditions for safe using of these funds legally raises big issues for a large number of beneficiaries, of which Romania. For the future budget cycle 2014-2020 is considering several new elements of novelty to a better allocation of resources, being proposed 5 new tools, besides Multiannual Financial Framework. European Commission’s action focuses on three areas of interest: the need for rigorous fiscal consolidation to consolidate macroeconomic stability, labor market reforms to increase employment rate, measures to stimulate growth. Romania's major objective in the context of negotiations for the future financial contribution to the EU budget is to improve its position of net beneficiary in the financial relations with it.

Keywords

• structural and cohesion funds
• EU budget reform
• absorption rate