How is Qem Master Erasmus Mundus

This is how the Erasmus program is financed

The fact that the budget allocated exceeds the current budget by 40% underscores the importance that the Erasmus program has for the European Union.

You are probably wondering where the EU is spending money on various measures such as B. Your Erasmus stay. You will find out in this article

Erasmus funding: where does the money come from?

This is done as follows: The income that the EU can post for itself includes the membership fees of the participating countries, import duties on goods that were manufactured outside the EU and fines that companies have to pay if they do not comply with EU directives obey to a sufficient degree.

The funds are primarily earmarked for growth and jobs and will also be used to better reconcile financial imbalances between EU countries. There are three main sources of income - on the one hand, the EU receives a small share of the gross national income of the respective member state. However, care is also taken to ensure that financially weaker countries are not burdened too much.

Erasmus funding: other sources of income

Another source of income is the countries' VAT revenues, although this makes up a smaller proportion. On the other hand, customs duties on goods that are imported into an EU country but manufactured in a non-EU country make up a larger proportion. In this case the situation is such that the importing country is allowed to keep a small part of the import duty.

The last point on the subject of EU sources of income would be the income taxes of EU employees and contributions through EU programs that are paid by non-EU countries in order to be allowed to participate in EU measures.

What else you should know: