The 2016 EU budget provides for €155.00 billion in total commitments. This leaves a margin of €2.3 billion under the expenditure ceiling of the multiannual financial framework for 2014-2020, allowing the EU to react to unforeseen needs. The level of total payments is set at €143.89 billion. This is a 1.8% increase compared to the 2015 EU budget, taking into account the eight amending budgets.
“Thanks to their excellent cooperation, the Council and the Parliament have ensured that the 2016 EU budget is part of the solution to the challenges that the European Union is currently facing. It provides the means to finance the EU’s priorities and is evidence of the European solidarity and values”, said Pierre Gramegna, minister for finance of Luxembourg and President of the Council.
