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20 Nov 2017

EU institutions agree on 2018 EU budget

On 18 November 2018, the European Council and the European Parliament (EP) reached an agreement on the 2018 EU budget. The agreement was made three days before the end of the conciliation period on 20 November 2017.Based on the European Commission's proposal of May 2017, the biggest part of the EU budget will go to stimulate the creation of jobs, especially for young people, and to boost growth, strategic investments and convergence. The EU will also continue supporting the efforts to effectively deal with the migration challenge.

The 2018 EU budget is set at €160.1 billion in commitments and €144.7 billion in payment credits. The budget includes € 11.2 billion for Horizon 2020. € 40 million are budgeted to fund collaborative research in innovative defence technologies and products, in connection with the launch of the European Defence Fund.

EU budget 2018 (in million ):

   

APPROPRIATIONS BY HEADING

Budget 2018
(nominal change in % compared to 2017)

Commitments

Payments

1. Smart and inclusive growth:

77,534 (+2,8%)         

66,624 (+34,9%)

Competitiveness for growth and jobs

22,001 (+3,2%)

20,097 (+4%)

Economic, social and territorial cohesion

55,532 (+2,7%)

46,527 (+54,7%)

2. Sustainable Growth: natural resources

59,285 (+1,2%)

56,084 (+3,6%)

Market related expenditure and direct aids

43,235 (+1,5%)

43,189 (+1,5%)

3. Security and Citizenship

3,493 (-18,5%)

2,981 (-7,6%)

4. Global Europe

9,569 (-8,3%)

8,906 (-1,7%)

5. Administration

9,666 (+2,9%)

9,666 (+2,9%)

Other special Instruments

0,567 (-67,6%)

0,42 (-73,5%)

Total appropriations

160,114 (+0,2%)

144,681 (+14,1%)

       

The budget text now has to be formally approved by the EP and the Council within 14 days.

For more information:

EC press release

European Council press release

EP press release

 

 

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