Commission proposes draft EU Budget 2017
On 30 June 2016 the Commission proposed the 2017 draft EU Budget focusing on the two main policy priorities for Europe: supporting the ongoing recovery of the European economy and addressing the security and humanitarian challenges in our neighbourhood. Increased funding will go to investments in growth, jobs and competitiveness in the European Union and to secure the necessary resources to protect the external borders of the EU, to reinforce security inside and outside the Union, to provide support for the reception and integration of refugees, and to address the root causes in the countries of origin and transit.
The money specifically for supporting economic growth will total €74.6 billion in commitments in 2017, compared to €69.8 billion in 2016. This breaks down as follows:
- €21.1 billion on growth, employment and competitiveness. This includes €10.6 billion for research and innovation under Horizon 2020, 2.0 billion for education under Erasmus+, €299 million for small and medium sized-enterprises under the COSME programme, and €2.5 billion under the Connecting Europe Facility (CEF).
- €2.66 billion for the European Fund for Strategic Investments (EFSI), the vehicle behind the Investment Plan for Europe. This is a success story for Europe, which has secured €106.7 billion in investments in 26 EU Member States in less than a year.
- €53.57 billion to support productive investments and structural reforms to foster convergence among Member States and among regions via the European Structural and Investment Funds (ESIF).