On 28 November, the Council gave its final go-ahead to the 2017 EU budget by approving the deal reached with the European Parliament on 17 November. The EU budget for 2017 was adopted on 1 December 2016, when the European Parliament confirmed the agreement.
The EU budget for 2017 sets the total level of commitments at €157.86 billion and of payments at € 134.49 billion.
The 2017 EU budget leaves a leeway of €1.1 billion to react to unforeseen needs. Payments are set 1.6% lower than the 2016 EU budget after being aligned to real needs.
Tackling the migration and refugee crisis
Almost €6 billion in commitments and hence around 11.3% more than in 2016 will be available to address the migration pressure and make the life of European citizens more secure. The money will be used to:
- help member states to resettle refugees
- create reception centres
- integrate persons who have the right to stay and return those who don't
- enhance border protection
- stepping up crime prevention and counter terrorism activities
- protecting critical infrastructure
Research and growth
€21.3 billion in commitments are mobilised to boost economic growth and create new jobs - this is an increase of around 12% compared to 2016. This part of the budget covers instruments such as Erasmus + which increases by 19% to €2.1 billion and the European fund for strategic investments which rises by 25% to €2.7 billion.
More money for young people
Besides the significant increase for Erasmus +, the 2017 EU budget also delivers on a number of other measures that benefit young people in particular. This includes the youth employment initiative for which an additional €500.00 million is available to help young people find a job. The 2017 EU budget also allows the Commission to start an initiative to help young people to travel and discover other European countries.
The 2017 EU budget also includes the €500.00 million aid package announced in July to support milk and other livestock farmers.
A summary of the EU budget for 2017: