Once every seven years, the European Union decides on its future long-term budget – 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 budget for the next MFF for the period of 2021-2027 (see the whole Communication here).
The future budget amounts to €1.105 billion in payments – expressed in 2018 prices (€1,135 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 € 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
