European Parliament approves EU's 2014-2020 budget

 European Parliament approves EU's 2014-2020 budget
An illustration picture shows Euro coins, photographed in Warngau April 3, 2013.

STRASBOURG, France - The European Parliament on Tuesday approved the EU's first-ever trimmed-back longterm budget for 2014-2020 after a long row between EU institutions on its spending cuts.

The budget was adopted by a large majority of 682 MEPs including members from both the conservative and leftwing camps. It provides for 908 billion euros (S$1.53bn) in payments against 960 billion euros in funding commitments.

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