Brussels (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. If the Parliament endorses the agreement at its vote on 1 December the 2017 EU budget is considered adopted.

"The 2017 EU budget is a blueprint for the future. It is sound, focused and shows solidarity. It delivers on citizens' main concerns by tackling the migration challenges, reinforcing security, boosting growth and creating jobs. And it provides for significant increases to programmes such as Erasmus+ that benefit young people in particular", said Ivan Lesay, State Secretary for Finance of Slovakia and President of the Council.

The 2017 EU budget contains €157.86 billion in commitments, with a leeway of €1.1 billion to react to unforeseen needs. Payments are set at €134.49 billion, which is 1.6% lower than the 2016 EU budget after being aligned to real needs.

Two digit growth rates for top priorities

Two digit growth rates are provided to a number of top priorities:

• 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 help member states to resettle refugees, create reception centres, integrate persons who have the right to stay and return those who don't; it will also contribute to enhancing border protection, stepping up crime prevention and counter terrorism activities and protecting critical infrastructure
• €21.3 billion in commitments are mobilised to boost economic growth and create new jobs under sub-heading 1a (competitiveness for growth and 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.

Next steps

The 2017 EU budget is expected to be formally adopted by the Parliament on 1 December. If the Parliaments rejects the agreement the Commission has to propose a new 2017 EU draft budget. Should the budget not be adopted at the beginning of 2017, a sum equivalent to not more than one twelfth of the budget appropriations for 2016 or of the draft budget proposed by the Commission, whichever is smaller, may be spent each month for each chapter of the budget.

EU budget 2017

Council website on budgetary matters