Budget, EU – Baltic States, Financial Services, Legislation

"Combining the legacy of the past with helping Europe recover from the crisis, and this with scarcer resources," according to Commissioner Janusz Lewandowski.

Next year's draft budget stipulates commitments of EUR 145.6 billion, and payments of EUR 142.1 billion. The bulk of the commitments is for future projects that make Europe stronger economically whereas some 40% of the payments still cover EU funded projects from the 2007-2013 financial period. Also the Commission is proposing a further 1% reduction in its staff numbers, the third such cut in three years.

"The EU budget is 28 countries pooling together a small part of their resources to the greatest benefit of more than 500 million Europeans," Lewandowski added. "It helps avoid duplications of efforts at the national level and makes each of our member states stronger as combined efforts bring better results than fragmented action. The 2015 draft budget amounts to 1% of combined GNI of all Member States and manages to take into account present and future major issues such as the Ukrainian crisis or the need to strengthen the EU’s energy security by refocusing its scarce resources," Lewandowski said.

The EC indicated that the proposed increase of 2.1% in commitments and 1.4% in payments is virtually absorbed by the estimated inflation rate for 2015.