As for expenditure under Next Generation EU proper, as of 2021, the efforts necessary for its implementation to reach full speed will be considerable. In addition to the legal acts for revenue, the deployment of expenditure will require the adoption of the new MFF Regulation, the agreement on the implementing instruments linked to Next Generation EU, and their launch. For the 2014-2020 period, the late adoption of the MFF Regulation in December 2013 delayed the start of its implementing programmes, leading to significant resources being reprogrammed from 2014 to subsequent years. Figure 4 recapitulates how the Commission expects the payments linked to the implementation of Next Generation EU to be distributed over the 2021-2027 period and beyond, based on the assumption that all the elements of the package will be in place in good time.
Next Generation EU: Estimated breakdown of payments by year (€ billion, current prices, % of total)
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