The recovery plan for the EU is worth €2.018 trillion (current prices) and consists of two parts: the multiannual financial framework for the years 2021 to 2027 (MFF), and the ‘Next Generation EU’ (NGEU) European recovery instrument for the years 2021 to 2023 (Figure 1). In both cases, the time frame concerns the period for making legal commitments giving rise to expenditure. While the MFF ensures financial predictability for investments and means to implement various EU policies in the medium and long term, the NGEU is a temporary, short-term instrument, addressing the consequences of and challenges posed by the Covid-19 pandemic.
Figure 1 – Overview of the recovery plan for Europe, € billion, current prices.
Categories:
European Parliamentary Research Service
Related Articles
In focus
We write about
Blogroll
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, 2014-2024. All rights reserved.
Be the first to write a comment.