Draft budget for 1995 adopted by the Commission
The European Union draft budget for 1995 was adopted by the Commission on 19 April 1994. The budget comes under the framework of the 1993-1999 financial perspectives which were established by institutional agreement between the European Parliament, the Council and the Commission on 29 October 1993. A maximum rate of 1.21% of Community GDP is expected for the budget in 1995, an increase of 0.01% on 1994. Expenditure on new commitments will increase by 3.9% (to ECU 76.3 billion) and payment expenditure by 3.3% (to ECU 72.3 billion). This increase is lower than the average increase in public expenditure in the Member States (an average of 4.5%). In terms of sectors, the draft budget allocates ECU 36.994 billion to agriculture (an increase of 1.45% on 1994). Structural projects will be provided with ECU 25.3 billion (an increase of 9%), along with ECU 23.112 billion for the Structural Funds. The allocation for internal policy (in particular trans-European networks, research, education, professional training and youth) is set at ECU 4.6 billion. External projects will be provided with ECU 4.55 billion (with particular emphasis on the Mediterranean region, Eastern and Central European countries and the CIS). Funds will also be provided for humanitarian aid.