NEWS

November/December 2013

DID YOU KNOW?

On 11 November the Council and the European Parliament agreed on the 2014 EU budget and on the financing of €400.5 million to address damages from natural disasters in four member states.

EDC News: The EU Budget

The Commission’s budget is broken down into approximately 30 policy areas or activity areas, in what is known as 'activity-based budgeting' (ABB). The policy areas (research, employment, etc.) are closely related to the headings in the financial framework:

The European Commission has a Multiannual Framework which prioritises the budget spending under the above headings. Currently the European Union’s focus is to deliver on smart, sustainable and inclusive growth and for providing solidarity between Member States and regions. With this in mind the Commission has decided that the main priorities for the 2014 Budget, are to reinforce the EU budget contribution for growth and jobs. This will be done through a new Youth Employment Initiative (YEI) targeting young unemployed people, those in education or training. Also, through a new joint initiative with the European Investment Bank (EIB) to support access to finance for small and medium-sized enterprises SMEs).

For more information: