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On 14 July 2021 the European Commission adopted the 'fit for 55' package, a set of legislative proposals to meet the new EU objective of a minimum 55 % reduction in greenhouse gas (GHG) emissions by 2030. The fit for 55 package is part of the Commission's European Green Deal, which aims to set the EU firmly on the path towards net zero GHG emissions (climate neutrality) by 2050. The fit for 55 package includes a regulation establishing a new social climate fund (SCF). The aim of the SCF is to help ...

During the May I plenary session, the European Parliament is due to vote on the discharge for the execution of the EU budget for the 2020 financial year. Concerning administrative expenditure, the European Parliament's Committee on Budgetary Control (CONT) recommends granting discharge for the implementation of six administrative sections of the EU budget for 2020. For the European Council and Council, the Court of Auditors and the Economic and Social Committee, it recommends postponing the decision ...

Before the pandemic, the Greek economy was just getting back onto a positive path, following reforms implemented under the macroeconomic adjustment programmes. Action to address the country's specific characteristics is now all the more important since the -8.2 % downturn of 2020. Greece was among the first four countries to submit its national recovery and resilience plan (NRRP) in April 2021. The plan envisages investments and reforms totalling €30.5 billion, to be implemented up to 2026, with ...

Offering an overview of the economic and budgetary situation in the EU and beyond, and summarising the main economic indicators in the EU and euro area and their two-year trends, this study is the sixth in an annual series of 'Outlooks' produced by the European Parliamentary Research Service (EPRS). In seven chapters, the authors of the publication explain and analyse the EU annual budget and give an overview of its headings for 2022, all within the wider budgetary context of the EU’s post-2020 Multiannual ...

Revision of the Financial Regulation

At a Glance 17-11-2021

In March 2021, the European Commission announced a legislative proposal to revise the EU Financial Regulation to align it with the 2021 2027 multiannual financial framework and Next Generation EU. In anticipation of the Commission's proposals, an own-initiative report by the relevant European Parliament committees clearly expresses expectations of a stronger Parliamentary role in the budgetary scrutiny of Next Generation EU funds, and the integration of the rule-of-law conditionality in the Financial ...

In April 2021, the European Parliament decided to postpone the decision on granting discharge to the European Council and Council for the 2019 budget, and presented a number of observations. Parliament’s Committee on Budgetary Control has examined the situation again, and, in its second report, recommends not granting discharge to these two institutions. The vote on the second discharge report is scheduled for the October II plenary session.

In April 2021, the European Parliament decided to postpone the decision on granting discharge to the European Border and Coast Guard Agency for the 2019 budget, and presented a number of observations. Parliament's Committee on Budgetary Control has examined the situation again and now, in its second report, recommends granting discharge. The Committee nevertheless recommends 'freezing' part of the Agency's budget, insisting on the need to move swiftly to address the issues that remain concerning ...

Draft Amending Budget No 2/2021 (DAB 2/2021) aims to finance actions for prevention and the response to the coronavirus pandemic, in particular preparatory work for the 'digital green certificate' and genetic sequencing. It also introduces technical adjustments following the adoption of the Multiannual Financial Framework (MFF) for 2021-2027, and secures part of the financing for mobilisation of the EU Solidarity Fund (EUSF) – for which a decision is submitted simultaneously. The proposed EUSF mobilisation ...

The European Parliament’s Committee on Budgetary Control (CONT) recommends granting discharge for the administrative sections of the EU budget for 2019, with the exception of the European Council and Council for which it recommends postponing the decision on granting discharge. The votes on the discharge reports are expected to take place during the April plenary session.

The European Union's long-term budget, the multiannual financial framework (MFF) sets out the maximum annual amounts of spending for a seven-year period. The 2021 2027 MFF is structured around the EU's spending priorities, reflected in broad categories of expenditure or 'headings'. Following the Covid 19 outbreak, the EU's recovery instrument, Next Generation EU (NGEU), will reinforce the EU long-term budget. Heading 1 – Single market, innovation and digital – covers spending in four policy areas ...