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The changes mainly reflect the political agreement reached on the MFF 2014-2020 between the leaders of the EP, Council and Commission on 27-28 June.
"2014 will be the first year of the new MFF and I want the EU budget to boost troubled economies from day one", said EU budget Commissioner Janusz Lewandowski. "I therefore propose to put even more funds for science and research programmes and to support the companies. These changes will bring more jobs, especially for the young. I'm also glad to express Europe's solidarity with Cyprus to mitigate the impact of its painful adjustment through investing €200 million more in its economy", he added.
Within the framework of the abovementioned political agreement, the Commission proposes to grant additional €200 million to Cyprus (of which €100 million in 2014). This will help Cyprus invest in energy efficiency, support small and medium-sized enterprises and create or maintain jobs that otherwise could be lost. Financing will be provided through the Structural Funds and the Flexibility Instrument which enables extra funding in clearly identified cases.
The Commission also proposes to create specific budget lines to accommodate possible requests for technical assistance from Member States facing temporary budgetary difficulties. The establishment of these lines has no impact on the EU budget.