Once every seven years, the European Union decides on its future long-term budget โ the Multiannual Financial Framework (MFF). The next such budget, starting on 1 January 2021, will be the first for the European Union of 27, following the Brexit. On 2 May 2018, the European Commission presented its proposed EU budgetย for the next MFF for the period of 2021-2027 (see the whole Communication here).
The future budget amounts to โฌ1.105 billion in payments – expressed in 2018 prices (โฌ1,135 billion in commitments), which represents 1.11% of the EU27 Gross National Income. For recall, the EU budget adopted for the 2014-2020 period amounted to โฌ 1.082 billion (in commitments).
This article aims to summarise the key changes suggested by the Commission and procedure for the adoption of this MFF.
To read Euromontana’s article, click here
