The European Commission proposed Wednesday, May 27, an EU budget worth 143.5 billion in payment appropriations for 2016. Under the proposal, to support the recovery of the European economy and contribute to improving living conditions on the continent, almost half the budget of 2016 will be dedicated to measures to stimulate economic growth and job creation. The project includes contributions from the European Fund for Strategic Investment (ESIS), an essential element of the Investment Plan for Europe.
European Commission Vice President for Budget and human resources, Kristalina Georgieva, said: “Given the current economic situation it is more important than ever that taxpayer money be used wisely. In 2016, our budget will support economic recovery, investing in growth and employment, and aim is to contribute to the management of external challenges, such as migration. We answer the most pressing needs of Europe and we aim to achieve the best possible results. ”
The draft budget will be submitted to the European Parliament and the European Council, the final budget will be adopted jointly by the two co-legislators.
The most important elements of the EU budget proposed for 2016:
– Almost half of the loans (EUR 66.58 billion) will be allocated to measures to stimulate economic growth, employment and competitiveness;
– EUR 1.67 billion to support the political priorities of the EC energy union and the digital single market, through programs such as the Connecting Europe;
– EUR 1.8 billion (up 30% over 2015) will be allocated to Erasmus + program for Education, Training, Youth and Sports, which helps more than 4 million people to work and study in the EU during 2014-2020;
– EUR 10 billion (up by 11.6% compared to 2015) for enhanced competitiveness through research and innovation through programs such as Horizon 2020;
– EUR 2 billion in commitments and EUR 500 million in payments intended for the guarantee fund of ESIS, to unlock investment worth EUR 315 billion;
– EUR 42.86 billion for farmers;
– EUR 0.8 billion for the Asylum, Migration and Integration (AMIF) and the Internal Security Fund (ISF);
– EUR 9.5 billion for the EU’s ability to respond to external crises such as those in Ukraine and Syria.
Source: European Commission