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).
Multiannual Financial Framework
European Parliamentary Research Service
We write about
Disclaimer and Copyright statement
The content of all documents (and articles) contained in this blog is the sole responsibility of the author and any opinions expressed therein do not necessarily represent the official position of the European Parliament. It is addressed to the Members and staff of the EP for their parliamentary work. Reproduction and translation for non-commercial purposes are authorised, provided the source is acknowledged and the European Parliament is given prior notice and sent a copy.
For a comprehensive description of our cookie and data protection policies, please visit Terms and Conditions page.
Copyright © European Union, 2014-2023. All rights reserved.
Be the first to write a comment.