The bachelor thesis deals with the budget of the European Union, concretely with the EU financial framework 2007-2013. The first chapter defines general concepts and characteristics connected with the EU budget issue. The second chapter focuses on the present financial framework. EU budget expenditures and revenues are described in detail, namely in terms of individual expenditure policies and sources of revenue. The EU priority objectives for this period are mentioned. The third chapter gradually goes over to problems of the present financial framework. Above all this chapter speaks about the budget reform that began in this period. The end of the bachelor thesis outlines the possible development of the EU budgetary policy in the following financial period.