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Approval of EU budget by European Parliament clears way for final green light from Council
02 December 2013
The European
Parliament has voted in favour of the EU's Multiannual Financial Framework
(MFF) for the years 2014 to 2020. Consent by the Parliament on 19 November
clears the way for final approval of the budget by the Council in the coming
weeks.
The MFF allows the EU to invest up to EUR 960 billion in commitments
(1.00% of the EU's Gross National Income) and EUR 908.4 billion in payments
(0.95% of the EU's Gross National Income). The EU budget framework gears
spending towards sustainable growth, jobs and competitiveness in line with the
EU's Europe 2020 growth strategy. Next year's budget includes EUR 6.3 billion
in payments and EUR 9.3 billion in commitments for the research framework
programme Horizon 2020, and EUR 900 million in payments and EUR 3.6 billion in
commitments to kick-start the Youth Employment Initiative. President Barroso in
his statement following the EP approval said,"I am very pleased that today
we are able to show once again: Europe is part of the solution."
(1.00% of the EU's Gross National Income) and EUR 908.4 billion in payments
(0.95% of the EU's Gross National Income). The EU budget framework gears
spending towards sustainable growth, jobs and competitiveness in line with the
EU's Europe 2020 growth strategy. Next year's budget includes EUR 6.3 billion
in payments and EUR 9.3 billion in commitments for the research framework
programme Horizon 2020, and EUR 900 million in payments and EUR 3.6 billion in
commitments to kick-start the Youth Employment Initiative. President Barroso in
his statement following the EP approval said,"I am very pleased that today
we are able to show once again: Europe is part of the solution."
