The agreement reached between the European Parliament and the Council Presidency is unprecedented in terms of the overall amount to be spent and the innovative solutions enabling financing of the extraordinary needs in the aftermath of the Covid-19 pandemic. The overall ceiling of the 2021-2027 MFF is set at € 1 074.3 billion (in 2018 prices) and will be gradually increased to € 1 085.3 billion (+€ 11 billion). The increase is the result of the European Parliament’s negotiating efforts to reinforce 10 selected EU flagship programmes. Out of the total extra € 15 billion, € 11 billion will increase the MFF ceilings and € 4 billion will be financed from reallocations and margins within the MFF (see page 4). From 2021 to 2023, the MFF will be supplemented by € 750 billion from NGEU to arrive at a total of € 1 835.3 billion. On top of this, the special flexibility instruments for unforeseen needs will amount to € 21.1 billion (including € 1 billion on which the European Parliament insisted).
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