Sun, 23 Feb, 2014 12:08:46 AM FTimes Report, February 23  File Photo Lehtikuva The government has cut its funding for research and development activities in the budget for the year 2014 by EUR 42 million compared to the previous year.
The total appropriations and outlays for the area amount to EUR 1,955 million.
R&D funding will decrease by EUR 42 million from the previous year, according to Statistics Finland.
The share of public research funding in gross domestic product is estimated to be 0.99 per cent.
Government budget appropriations or outlays for R&D by socio-economic objective in 2013–2014. Source: Statistics Finland. Funding by the Ministry of Education and Culture will rise by EUR seven million to EUR 991 million and the share of the administrative sector in government R&D funding will exceed 50 per cent, the data show.
The share of the Ministry of Employment and the Economy will fall by EUR 48 million mainly due to decreases in funding awarded by Tekes - the Finnish Funding Agency for Innovation.
Funding by the Ministry of Employment and the Economy amounts to EUR 640 million and it accounts for one-third of all funding.
In line with the socio-economic objective, the general advancement of knowledge is the largest category with its share of 49 per cent.
The category's EUR 963 million are mainly comprised of universities' research funds and the Academy of Finland's science funding, according to the Statistics Finland.
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