AGL 38.02 Increased By ▲ 0.08 (0.21%)
AIRLINK 197.36 Increased By ▲ 3.45 (1.78%)
BOP 9.54 Increased By ▲ 0.22 (2.36%)
CNERGY 5.91 Increased By ▲ 0.07 (1.2%)
DCL 8.82 Increased By ▲ 0.14 (1.61%)
DFML 35.74 Decreased By ▼ -0.72 (-1.97%)
DGKC 96.86 Increased By ▲ 4.32 (4.67%)
FCCL 35.25 Increased By ▲ 1.28 (3.77%)
FFBL 88.94 Increased By ▲ 6.64 (8.07%)
FFL 13.17 Increased By ▲ 0.42 (3.29%)
HUBC 127.55 Increased By ▲ 6.94 (5.75%)
HUMNL 13.50 Decreased By ▼ -0.10 (-0.74%)
KEL 5.32 Increased By ▲ 0.10 (1.92%)
KOSM 7.00 Increased By ▲ 0.48 (7.36%)
MLCF 44.70 Increased By ▲ 2.59 (6.15%)
NBP 61.42 Increased By ▲ 1.61 (2.69%)
OGDC 214.67 Increased By ▲ 3.50 (1.66%)
PAEL 38.79 Increased By ▲ 1.21 (3.22%)
PIBTL 8.25 Increased By ▲ 0.18 (2.23%)
PPL 193.08 Increased By ▲ 2.76 (1.45%)
PRL 38.66 Increased By ▲ 0.49 (1.28%)
PTC 25.80 Increased By ▲ 2.35 (10.02%)
SEARL 103.60 Increased By ▲ 5.66 (5.78%)
TELE 8.30 Increased By ▲ 0.08 (0.97%)
TOMCL 35.00 Decreased By ▼ -0.03 (-0.09%)
TPLP 13.30 Decreased By ▼ -0.25 (-1.85%)
TREET 22.16 Decreased By ▼ -0.57 (-2.51%)
TRG 55.59 Increased By ▲ 2.72 (5.14%)
UNITY 32.97 Increased By ▲ 0.01 (0.03%)
WTL 1.60 Increased By ▲ 0.08 (5.26%)
BR100 11,727 Increased By 342.7 (3.01%)
BR30 36,377 Increased By 1165.1 (3.31%)
KSE100 109,513 Increased By 3238.2 (3.05%)
KSE30 34,513 Increased By 1160.1 (3.48%)

Talks setting the EU's budget for next year are going down to the wire because of disagreement between member states and the European Parliament, officials said Saturday. Both sides held negotiations into late Friday but "suspended the talks without agreement," the parliament said in a statement. It added that they would resume on Monday.

The 2020 budget is just a skirmish compared to the much broader battle going on in current negotiations for the EU's long-term 2021-2027 budget plan.

But the stakes and positions being taken represent some of the headbutting stances between member states and the new European Parliament that is flexing its muscles.

Also, whatever gets decided for the 2020 budget becomes the default reference for the multi-annual budget if no agreement is found.

For next year's budget, member states want to cut spending by 1.5 billion euros ($1.65 billion) and set aside funds for unpredictable turmoil such as Brexit, but MEPs are looking to increase the envelope by 2.7 billion euros to pay for new priorities such as tackling climate change.

The European Commission has proposed overall 2020 spending of 168 billion euros, slightly up on the 166 billion euros for this year. According to Bettina Hagedorn, the state secretary in Germany's finance ministry, the positions are not far apart. If there is no agreement by late Monday, the Commission will have to present a new draft budget.

That task would fall to the new Commission led by Germany's former defence minister Ursula von der Leyen.

Von der Leyen's team was meant to already be in place this month. But it had its start delayed because the European Parliament refused to confirm three of her chosen commissioner candidates, forcing a search for replacements.

Copyright Agence France-Presse, 2019

Comments

Comments are closed.