The Commission today proposed a 2016 EU budget of €143.5 billion in payment credits to support the recovery of the European economy and help improve lives in Europe and beyond. The money will be invested to boost innovation, create jobs, help convergence among Member States and among regions, deal more effectively with migration and further strengthen the role of the EU as a global player.
The proposal also includes contributions to the European Fund for Strategic Investment (EFSI), which is at the heart of the Investment Plan for Europe. Today’s draft will be sent to the European Parliament and EU Member States who will jointly decide on the final budget.
European Commission Vice-President Kristalina Georgieva, in charge of budget and human resources, said:
In today's economy it is more important than ever to use taxpayers' money wisely. Our 2016 budget supports the economic recovery through investment for growth and jobs, as well as helping manage external challenges such as migration. We are responding to the most pressing needs in Europe and aiming for the best possible results.