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The Commission had to reduce the level of pre-financing for new commitments

  • budget shortage

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