Search

Offering an overview of the economic and budgetary situation in the European Union and beyond, and summarising the main economic indicators in the EU and euro area and their two-year trends, this study is the seventh 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 annual EU budget and give an overview of its headings for 2023, all within the wider budgetary context of the EU's ...

Without effective coordination of fiscal policies and active supervision of external and internal imbalances, significant negative spillover effects can occur between Member States participating in economic and monetary union and across the EU more widely. A credible fiscal framework and related rules should therefore be designed and enforced, to ensure that Member States pursue sound public finance policies that keep deficits within the range where financing can be secured. This approach, coordinated ...

The current multiannual financial framework (MFF) is under extreme strain owing to the multiple crises the EU is facing, notably the war in Ukraine and the effects it has triggered. With funds and flexibility measures already extensively used and further funding challenges still ahead, the European Parliament's Committee on Budgets, in an own-initiative report, calls for an urgent and ambitious revision of the MFF to increase the EU budget and make it more flexible. This should enable the EU to confront ...

During its November II plenary session, the European Parliament is expected to adopt the EU's general budget for 2023. Parliament will vote on the provisional agreement reached on 14 November 2022 during the budgetary conciliation between Parliament and the Council, and due to be formally voted by the Council before the Parliament's vote. Once adopted, commitment appropriations for 2023 will amount to €186.6 billion and payments to €168.6 billion, including special instruments. The negotiators also ...

The European Commission adopted a proposal for a Council decision on the introduction of new own resources in December 2021. It relates to the interinstitutional agreement on own resources linked to the 2021 2027 MFF and the Next Generation EU (NGEU) package that were introduced in response to the pandemic. Proceeds from additional own resources would help repay the NGEU debt. Parliament is due to vote on the report by the Committee on Budgets during its November II plenary session. This is an important ...

During the October II plenary session, Parliament is expected to vote on amendments to the Council's position on the draft EU budget for 2023. The 2023 budget is the third under the 2021-2027 multiannual financial framework (MFF). It is also the third and last year of the Next Generation EU recovery instrument, designed to run for the years 2021 to 2023. The report of the Committee on Budgets (BUDG) reverses almost all the reductions proposed by the Council to the Commission's proposal. It also proposes ...

This briefing follows up the commitments made by the commissioner since 2019.

In December 2021, the European Commission presented a proposal for an amendment of Regulation 2020/2093 on the multiannual financial framework (MFF) for the years 2021 to 2027. The proposed targeted revision has the following purposes: a) to raise the MFF ceilings to incorporate the social climate fund; and b) to introduce an automatic annual adjustment of the MFF ceilings based on new own resources, to allow for the repayment of Next Generation EU borrowing. On 31 August, the Committee on Budgets ...

This study is an update of ‘Documenting climate mainstreaming in the EU budget’ published in 2020. The methodology used by the European Commission for tracking climate change and biodiversity related expenditure at EU level is reviewed again in the light of the Multiannual Financial Framework approved in 2021 and the new regulatory framework covering the period 2021-2027. This confirms the main strengths and weaknesses pointed out by the initial study. Recommendations for improving the tracking mechanisms ...

Draft amending budget 1/2022 (DAB 1/2022) aims to strengthen the 2022 EU budget with a transfer of over €12 billion in commitment appropriations from the 2021 EU budget. The transfer concerns eight funds under shared management under Headings 2a, 3, 4 and 5 of the multiannual financial framework (MFF). The MFF ceilings for 2022-2025 are further adjusted following the delay in adopting the legal bases.