EU BUDGET: EURO 5.47 BILLION SURPLUS CARRIED OVER FROM 2003 TO 2004 BUDGET.

Individual Member States will see their contribution to the EU Budget reduced by Euro 5.470 billion this year as a result of surplus funds left over in the 2003 kitty. These surpluses, set out in detail in a 7th Preliminary Draft Amending Budget for the current financial year which the European Commission is due to put forward on May 12, include Euro 850 million in surplus income, 4.729 million in unused payment appropriations and 109 million in monetary gains as a result of the...