2017 EU budget focused on economic recovery and refugee crisis

The Council i and the European Parliament i have reached an agreement on the 2017 budget. As proposed by the Commission earlier this year, the EU i will spend more money on making Europe more competitive and more secure.

The Council and the European Parliament have reached an agreement on the 2017 budget. As proposed by the Commission earlier on 30 June 2016, the EU will spend more money on making Europe more competitive and more secure.

The 2017 EU budget is set at €157.9 billion in commitments - a 1.7% increase from 2016 - and €134.5 billion in payment credits. Close to half of the funds will support jobs, growth and competitiveness. The parties also agreed to devote specific resources to support European farmers, reinforce the protection of our external borders and to address the migration and refugee crisis

European Commission Vice-President Kristalina Georgieva i, in charge of budget and human resources, said: "We have left no stone unturned to secure the money for a budget that will work in the best interest of our people. The 2017 EU budget will thus help buffer against shocks, providing a boost to our economy and helping to deal with issues like the refugee crisis. We continue to focus our budget on results, ensuring that every euro from the EU budget will make a difference."

To seal the compromise reached in the budgetary talks, the European Parliament and the Council both have to formally approve the text.