EU budget for 2010 to increase by six percent

Brussels, Nov 19

Following tough negotiations, European Union (EU) governments and the European Parliament have agreed on the bloc's budget for 2010.

A decision was reached to increase expenditure by six percent to 122.9 billion euros (about $183 billion), EU diplomats said Wednesday night in Brussels. The budget must still be approved by parliament in December.

"The budget is a powerful response to the economic crisis," said Hans Lindblad, Sweden's state secretary for finance, after the nearly 12-hour-long discussions.

Earlier this month, the bloc's executive said that the EU economy was heading for a gradual recovery, with its gross domestic product (GDP) set to increase by 0.7 percent next year and by 1.6 percent in 2011.

The European Commission's more recent estimates marginally lower the projection for 2011 growth, to 1.5 percent.

The rebound, spurred by a massive injection of government money, improvements on the financial markets and an increase in world trade, is set to follow one of the bloc's worst recessions in decades.

DPA

Last updated on Nov 19^th, 2009 at 06:34 am IST--IANS

Possibly related news:

Other News Headlines

Greek capital witnesses three blasts in two days

Athens, March 20

A bomb exploded outside a police detention centre in Athens Saturday, although no one was injured, Greek radio reported.

Maharajas' Express chugs out from Kolkata

Kolkata, March 20

Railway Minister Mamata Banerjee Saturday night flagged off the Kolkata-Delhi luxury tourist train Maharajas' Express from here.

Demi's tweet saves life

London, March 20

Hollywood actress Demi Moore saved a man’s life when she responded to his suicide threat on the social networking site Twitter.

Dannii Minogue enjoys being short

London, March 20

Australian pop star Dannii Minogue loves being short because it is more comfortable on aeroplanes.

Government to decide on cooking gas, kerosene price hike

Chennai, March 20

The central government will take a decision on hiking the cooking gas and kerosene prices on the lines recommended by Kirit Parikh committee, an official said Saturday.

Enter Your Name and Email below and Post your comment
Name	Email:
Comment:

Please login to use this service
Usermame :
Password :
Quick signup \| Forgot Password