EU's budget for 2014 agreed On 11 November the Council and the European Parliament agreed on the EU budget for 2014, which also provides for remedying payments shortfalls in the current fiscal year. The agreed 2014 EU budget, which is the first under the EU's new Multiannual Financial Framework, among other things, contains: – support for smart and inclusive growth: € 64 billion in commitments and € 62.4 billion in payments – support for measures aimed at sustainable growth: € 59.3 billion in commitments and € 56.5 billion in payments – research framework programme Horizon 2020: € 9 billion in commitments and € 6 billion in payments – Youth Employment Initiative: € 3.9 billion in commitments and € 900 million in payments to kickstart the programme – humanitarian aid (notably for the victims of war in Syria and Lampedusa refugees): € 920 million in commitments and € 785 million in payments.
The Council is expected to formally approve the agreed budget and the draft amending budget No. 9 on 19 November. The European Parliament's approval should follow on 20 November.
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