On Wednesday 16 December, the European Parliament approved (548 votes in favour, 81 against and 66 abstentions) the EU’s Multiannual Financial Framework (MFF) for 2021-2027 (see EUROPE 12622/11).
The text on the Interinstitutional Agreement on budgetary matters, which provides for the introduction of a basket of new own resources, was also adopted (550 votes in favour, 72 against and 73 abstentions).
The EU Council is expected to formally approve the MFF Regulation and the Interinstitutional Agreement. They can then be published in the Official Journal of the EU and enter into force from 1 January.
The overall ceiling for the MFF is €1074.3 billion (2018 prices). The MFF will be complemented by the €750 billion Recovery Plan (€390 billion in grants). The financing of the new MFF and Next Generation EU will be made possible by an own resources decision authorising the Commission to borrow to finance the Recovery Plan.
The President of the European Parliament, David Sassoli, said that the European Parliament had “ensured that the resources of the European budget are conditional on respect for the rule of law and democracy throughout Europe”.
On Wednesday, the European Parliament also adopted the regulation on ‘cross-compliance with the rule of law’ and will vote on a resolution on the application of this text. (Original version in French by Lionel Changeur)