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28 May 2015

EC proposes draft EU budget for 2016

On 27 May 2015, the European Commission proposed a 2016 EU budget of €143.5 billion in payment credits.

The Commission's draft budget will be sent to the European Parliament and EU Member States who will jointly decide on the final budget.

EC Vice-President Kristalina Georgieva, who is responsible for budget and human resources, said: "Our 2016 budget supports the economic recovery through investment for growth and jobs, as well as helping manage external challenges such as migration. We are responding to the most pressing needs in Europe and aiming for the best possible results."

The Commission says that nearly half of the 2016 (€ 66.58 billion) budget will be used to stimulate growth, employment and competitiveness. According to this proposal, Horizon 2020 will receive €10 billion in 2016. The EU budget amounts to roughly 1% of EU GDP.

In a first reaction, the Budgets Committee MEPs welcomed the Commission proposal, calling it "restricted", but well focused.,

Budget negotiations between the Council and the European Parliament will start in autumn.

For more information:

European Commission - press release

European Parliament - press release

 

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