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EU draft budget 2012: For 500 million Europeans in times of austerity

"A delicate balancing act combining austerity and growth boosting measures for 500 million Europeans".

This is how Budget and Financial Programming Commissioner Janusz Lewandowski describes the draft EU budget 2012 as adopted by the Commission this 20 April 2011. The draft budget for 2012 represents € 132.7 bn in payments amounting to a 4.9 % increase on 2011. Commitments amount to €147.4bn (+3.7%). The key objective of the 2012 Draft Budget is to fully support the European economy and EU citizens.