According to our sources, the European Commission may make a proposal, on Wednesday 14 September, to modify the regulation on the multi-annual financial framework (MFF) of the EU for 2014-2020.
Kristalina Georgieva, the European commissioner for the budget, is to present the Commission's document on the mid-term review of the MFF 2014-2020. This communication is expected to contain sectorial modifications, a change to the financial regulation and an amendment of the regulation on the MFF 2014-2020, to meet new challenges and increase budgetary flexibility.
The MFF regulation sets the ceilings (maximum annual amounts) for the commitment appropriations (total amount of legal commitments) and payment appropriations (expenses made during a given financial period of the MFF). The MFF also includes annual global ceilings for the payment appropriations and commitment appropriations.
On 2 December 2013, the Council adopted the MFF currently in force (see EUROPE 10782). It allows the European Union up to €959.99 billion (in 2011 prices) in commitments and €908.40 billion in payments over the period 2014-2020. These amounts are 3.4% and 3.7% respectively lower than the corresponding amounts of the 2007-2013 MFF. (Original iversion n French by Lionel Changeur)