The Budget of the European Union

The first budget of the European Union (EU), i.e., than called the European Economic Community, was quite small and its primary role was to cover some administrative needs of the Community. However, since the Union constantly grew and since the member states were becoming more dependent from one another, the role of the budget became significant thereon. The more was the budget scope the more budgetary funds were raised. The budget and its revenues and expenditures structure endured changes.