European Commission's Directorate General for Budget

The European Commission's Directorate-General for Budget is responsible for keeping the EU's annual budgets, expenses and revenues within predetermined limits as well as contributing to the EU's annual budget preparations and preparing the Commission's budget proposals which are then negotiated and agreed upon by the European Parliament and Council, borrowing funds from the capital markets to fund the recovery under the NextGenerationEU instrument and implementing a diversified funding strategy.

BUDG also oversees EU spending, including payments to finance recovery under NextGenerationEU and the mobilization of EU budget money to enable the EU to respond to emergencies.