Agreement reached on 2016 EU budget
On 14 November 2015 the European Parliament and the Council of the EU reached an agreement on the 2016 EU budget. Negotiations started on 29 October and were supposed to last until 18 November, but an agreement was already achieved at the first meeting of the Conciliation Committee.
The 2016 EU budget is set at € 155 billion in commitments and € 144 billion in payment credits. Commitments for the EU research framework programme Horizon 2020 will reach €9.54 billion, which is a €31.8 million increase compared to the initial draft budget proposal. The Council and the Parliament now need to formally adopt the compromise on 24 and 25 November.