The European Parliament on Thursday approved the European Union (EU)'s budget in 2009, which will cost 116 billion euros (about 169 billion U.S. dollars), with the biggest share going to research and innovation.
This represents a slight increase of 0.3 percent in 2008, amounting to 0.89 percent of the EU's gross national income.
In 2009, 45 percent of the EU budget, or 60 billion euros, will go to research, innovation, employment and regional development programs, combining short and longer-term measures to help Europe respond to the current economic crisis as quickly and effectively as possible.
"An 11 percent increase in research and a 22 percent increase in the EU's innovation program will help boost competitiveness in difficult times as well as EU efforts to move to a low-carbon economy," the European Commission said in a statement in welcoming the approval made by the EU lawmakers in Strasbourg, France.
Funds for agriculture remain stable, taking over 40 percent of EU cash, while spending on the environment and rural development will rise by 2.9 percent.
Europe's role in the world will also see spending grow in 2009, including 600 million euros for the 1 billion food facility to help developing countries respond to rising food prices.
"The 2009 budget will focus funding on innovation, employment and regional development across the EU. These are the precise areas that can kick start Europe into recovery mode and pull it out of today's difficult economic situation," Dalia Grybauskaite, EU commissioner for Financial Programming and Budget said. (1 U.S. dollar = 0.684 euros) |
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