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EU Financing / Budgetary Affairs, PUBLICATIONS

Multiannual financial framework for the years 2021 to 2027: The future of EU finances [EU Legislation in Progress]

Written by Alessandro D’Alfonso (2nd edition, updated on 29.01.2021),

Budget auf Münzenstapel

© magele-picture / Fotolia

As of 1 January 2021, the new multiannual financial framework (MFF) that details the structure of EU finances up to 2027 started to apply, following publication of the MFF Regulation in the Official Journal. In the wake of the coronavirus pandemic, the lengthy negotiations in the Council and European Council gained momentum when they became intertwined with the debate on the Next Generation EU recovery instrument. The European Parliament, which gave its consent on 16 December 2020, managed to obtain various changes it had strongly advocated, such as additional resources for flagship programmes and increased flexibility.


Proposal for a Council regulation laying down the multiannual financial framework for the years 2021 to 2027 and Amended proposal for a Council regulation down the multiannual financial framework for the years 2021 to 2027
Committee responsible: Budgets (BUDG) COM(2018) 322 and COM(2020) 443, 28.5.2020.
Rapporteurs: Jan Olbrycht (EPP, Poland)
Margarida Marques (S&D, Portugal)
Shadow rapporteurs: Moritz Körner (Renew, Germany)
Marco Zanni (ID, Italy)
Rasmus Andresen (Greens/EFA, Germany)
Roberts Zīle (ECR, Latvia)
Younous Omarjee (The Left, France)
Dimitrios Papadimoulis (The Left, Greece)
Special legislative procedure (APP) (Consent – Unanimity in the Council. The Parliament has the power to accept or reject the Council’s position on the proposal)
Procedure completed. Council Regulation (EU, Euratom) 2020/2093
OJ L 433I, 22.12.2020, pp. 11–22



Visit the European Parliament homepage on the EU’s long term budget 2021-2027.

Or The EU’s long term budget explained.

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