Slovakia Strikes Deal with European Parliament on 2017 EU Budget

After 18 hours of strenuous negotiations between the Council of the EU and the European Parliament, an agreement on the EU budget for 2017 has been reached, the TASR press agency learnt on Thursday. The Council was represented by Slovak Finance Ministry State Secretary Ivan Lesay on behalf of Slovakia's Presidency of the Council of the EU. Total commitments are set at €157.88 billion and payments at €134.49 billion. An official statement of Slovakia's presidency describes this as a huge success. Commitments dedicated to addressing the migration crisis and strengthening security under the deal amount to €5.91 billion, a year-on-year increase of 11.3 percent. This money will be used to help member states with relocating refugees, creating admission centres, developing integration measures and repatriating illegal migrants. Around €21.3 billion is designated to support economic growth and job creation, a year on year hike of around 12 percent. The 2017 EU budget should provide €500 million for the support of initiatives aimed at youth employment and another €500 million for the support of farmers producing milk, as well as other European breeders.