Ireland's contribution to the EU budget will increase significantly in future years according to financial projections.

The country was a net beneficiary financially of the EU until 2014, and since then, Ireland has received marginally less than it has contributed. 

Ireland contributed €2 billion to the EU budget in 2017.

A report of the Comptroller and Auditor General about Ireland's transactions with the EU in 2017 was presented to the Houses of the Oireachtas today.

The report compiles information on financial transactions between Ireland and the EU in 2017, with the aim of providing an overview of Ireland's contribution to the EU budget, the funding it receives, and financial corrections.

The EU has committed to spending €1,087 billion for the period 2014 to 2020 under the current multiannual financial framework. Negotiations have commenced on the framework for the period commencing 2021. These are critical negotiations because the outcome will set the financial relationship for the medium to long term.

Ireland received €1.8 billion in EU funding in 2017. Approximately 90% of the funding received in 2017 was administered through central government departments. The remaining 10% goes directly to certain public bodies, the private sector and EU bodies operating in Ireland.

Over 80% of funding received in 2017 was in respect of agriculture and rural development. This funding makes a significant contribution to the viability of farming in Ireland.

Ireland has made relatively more progress than the EU average in selecting projects for structural funding. Ireland is also relatively good at drawing down available structural funds.

Compared to other member states, Ireland incurs a relatively low level of financial corrections as a result of audits of EU transactions.