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Fri, 26 Feb, 2016 12:10:18 AM FTimes Report, Feb 26
Appropriations for research and development will decrease in the budget for 2016 by around EUR 127 million from the year before.
In total, government R&D funding will be approximately EUR 1,875 million in the budget, according to Statistics Finland.
The share of public research funding in gross domestic product is estimated to fall to 0.89 per cent.
The fall is particularly caused by cuts to the appropriations of Tekes - the Finnish Funding Agency for Technology and Innovation, and government research institutes.
The R&D funding awarded by Tekes will decrease by EUR 107 million in the budget for 2016, and R&D funding of government research institutes will go down by EUR 59 million from the year before.
The decrease in the mandate of Tekes continues the support cuts made during the previous Government's term of office.
The fall in the appropriations of research institutes is explained partly by the comprehensive review of government research institutes and research funding.
Of the administrative sectors, most R&D funding is awarded by the Ministry of Education and Culture, whose share in all public research funding is over one half, the statistics show.
The modest rise in R&D funding by the Ministry of Education and Culture in the 2016 budget is mainly due to the growing outlays of the Academy of Finland.
Government budget appropriations or outlays for R&D (GBAORD) in 2016
Source: Government R&D funding in the state budget 2016, Statistics Finland. More News
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