This work, titled The Budget of the European Union: Financing Options for Member States, systematically and comprehensively addresses the functioning of this complex financial mechanism, starting from the basic concepts of the budget and progressing to modern methods of its foundation, the specificities of the EU budget, and the funding opportunities available to member states.
Structured into five chapters, the book initially explores the theoretical framework of public budgets and public finances, providing the reader with a clear perspective on how national and European budgets operate. The author then analyzes in detail the methods of budget formulation, both classical and modern, placing special emphasis on recent innovations in budget management, such as effectiveness based and objective driven methods that have transformed resource allocation processes at the European level.
The central chapter of the work is dedicated to the budget of the European Union, reviewing its historical evolution and the unique characteristics it presents compared to national budgets. The author details the multiannual financial framework, budget management, sources of revenue, and types of expenditure, all of which illustrate the crucial role the budget plays in achieving the political and economic objectives of the Union.
A major attraction of the work is the chapter dedicated to funding options for member states. In this section, readers will discover the diversity of financial instruments available, ranging from grants and subsidies to trust funds and public procurement contracts. This part of the book provides a clear overview of how member states can access and utilize these resources to stimulate economic growth, innovation, and sustainable development.
In conclusion, the paper ends with an analysis of the Multiannual Financial Framework 2014 – 2020, the Multiannual Financial Framework 2021 – 2027, and the NextGenerationEU initiative—two key instruments in the post pandemic economic recovery process that offer the European Union and its member states new investment opportunities for their common future.
This book is intended for both specialists in economics and public finance, as well as those interested in European public policies. Through a clear and detailed presentation of the European Union budget and funding options, the work offers a valuable guide for understanding and utilizing the resources available in the community space. I hope this book contributes to a better awareness of European budgetary mechanisms and to a more effective use of European funds for the benefit of member states and their citizens.