Finland Times

The government is likely to allocate EUR 2,002 million for research and developments in the budget for the year 2013, according to Statistics Finland.

The budget appropriations and outlays for research and development is EUR 53 million lower compared to the allocation of the previous year, said a press release issued here on Wednesday.

The report also said that government expenditure in research and development as a proportion of overall government spending exclusive of debt servicing is estimated to be 3.8 percent.

The amount of Research and Development funding grows only in the administrative branches of the Ministries for Foreign Affairs and of Justice.

EUR 17 million reduction in the funding of the Ministry of Employment and the Economy comes mostly from cuts in the outlays and appropriations for technology of Tekes, the Finnish Funding Agency for Technology and Innovation.

The Research and Development funding awarded by the Ministry of Defense also falls by about EUR 15 million. The funding of the Ministry of Employment and the Economy amounts to EUR 688 million and that of the biggest administrative branch, the Ministry of Education and Culture, to EUR 984 million. The funding of the Ministry of Education and Culture goes mostly to universities and the Academy of Finland.