Comunique

Following the European Parliament’s consent, the Council has adopted the regulation laying down the EU’S multiannual financial framework for 2021-2027.

The regulation provides for a long-term budget of €1,074.3 billion for the EU27 in 2018 prices, including the integration of the European Development Fund. Together with the Next Generation EU recovery instrument of €750 billion, it will allow the EU to provide an unprecedented €1.8 trillion of funding over the coming years to support recovery from the Covid-19 pandemic and the EU’S longterm priorities across different policy areas.

The next long-term budget will cover seven spending areas and will provide the framework for the funding of almost 40 EU spending programmes in the next seven-year period.

Under the next multiannual financial framework, EU funding will be geared towards new and reinforced priorities across the EU’S policy areas, including green and digital transitions. Cohesion policy and the common agricultural policy will continue to receive significant funding and undergo modernisation to ensure that they best contribute to Europe’s economic recovery and the EU’S green and digital objectives.