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Spending errors/Irregularities in the EU budget of 240 billion euros are increasing

2024-10-10 15:04:00, Kosova & Bota CNA

Spending errors/Irregularities in the EU budget of 240 billion euros are

Error rates in EU spending have risen to a level not seen since the financial crisis, partly because of complex and overlapping programs - and it is not clear how Brussels will pay back pandemic-era debts. said the European Court of Auditors.

Errors in the EU's €240 billion budget last year rose to 5.6%, a level not seen since the financial crisis, the European Court of Auditors (ECA) said in a report published on Thursday.

For the fifth year in a row, the EU's budget watchdog offered a dissenting opinion on the bloc's spending, representing a formal red card as member states rush to grab "buckets of cash" from Brussels that have a spending deadline , said the European Court of Auditors.

The main culprit was EU cohesion spending: mistakes in investments aimed at developing the bloc's poorest regions rose to 9.3% of spending, up from 3.6% in 2021, at a time when funding flows were expiring.

Ideas for new sources of revenue for the EU have largely fallen flat - with member states skeptical about plans for new Brussels taxes on polluters, or company profits.

Budget errors and irregularities do not necessarily mean fraud or waste, the Court emphasized. But in 2023, the Luxembourg-based court reported 20 cases to the EU's anti-fraud unit, OLAF – an increase from just 12 the year before.

The EU executive itself calculates the lowest error rates and explains the difference by citing divergences in methodology over minor or technical issues such as how to determine staff numbers./ CNA





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