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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 ...

The Committees on Budget (BUDG) and Budgetary Control (CONT) are holding a workshop on the role of the EU budget in international climate finance with invitation to Members of the Committee on Environment, Public Health and Food Safety (ENVI). The workshop will cover a series of important questions regarding the financial instruments that are needed to reach the environmental goals that are set out in the Paris Agreement to which the European Union (EU) and all its Member States (MS) are signatories ...

A special treatment for certain types of investments, such as green investments, in the European fiscal framework may be justified on the ground that there are priority objectives such as the future health of the planet. An “investment clause”, less restrictive than the existing one, can be envisaged for projects that are co-financed, financed or guaranteed by the European Union or by European Union Institutions, such as the European Investment Bank.

A debate and vote on the Committee on Budgetary Control (CONT) report on the 2021 annual report on the protection of the EU's financial interests (PIF report), prepared by the European Commission, are scheduled for the January I plenary session. The PIF report details measures taken at European and national level to counter fraud affecting the EU budget. The number of cases of fraud and irregularities remained stable in 2021 compared to 2020, but the sums involved increased to €3.24 billion, due ...

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 ...

The highlight of the November II 2022 plenary session was the ceremony marking the 70th anniversary of the European Parliament, with the participation of the Prime Ministers of France, Belgium and Luxembourg. Russia's war against Ukraine again featured high on the agenda, not least with the adoption of a resolution recognising the Russian Federation as a state sponsor of terrorism, and a joint debate with a vote on regulations governing EU financial assistance to Ukraine. Political debates were held ...

The EP’s budget is drawn up during the year n-1, with the preparations in its Directorates General already starting in the last quarter of the year n-2. The budgetary procedure - first inside the EP for the institution’s own budget, then for the budget of the EU as a whole in the interinstitutional part of the procedure - lasts throughout the year n-1, with an agreement usually reached during the last quarter of year n-1. For example, the preparations for the 2020 budget in the Directorates General ...

On 9 November 2022, the European Commission presented an €18 billion Ukraine support package for 2023, in the form of highly concessional loans backed by the EU budget. Three acts must be passed for disbursement to begin in early January. If plenary approves use of the urgent procedure (Rule 163), the three proposals will be voted directly during the November II session.

Executive Vice-President Dombrovskis and Commissioner Gentiloni have been invited to the eighth Recovery and Resilience Dialogue (RRD) under the Recovery and Resilience Facility Regulation. The previous RRD took place on12 September. This briefing first presents the state of play of the Recovery and Resilience Plans’ adoption, rule of law conditionality, latest progress on milestones and targets, introduction of RePowerEU, audit and control, and financing aspects of the Facility.

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 ...