In his speech of September 24, 2014, Jacek Dominik, Commissioner for Financial Programming and Budget, addresses the latest budget shortages for 2014 which lead to practical consequences in various EU-level funding programmes, among those Horizon 2020 and Erasmus+.
The Commission had to reduce the level of pre-financing for new commitments, from 60% under FP7 to 35% under Horizon 2020 due to budget shortages in 2014.
According to Mr. Dominik, budget implementation 2014 is record-high: overall, 80% of the available appropriations have already been used, and important programmes and actions are quickly running out of appropriations.
Read the full speech at: http://europa.eu/rapid/press-release_SPEECH-14-620_en.htm
