European Union funds available in the perspective of seven years are approved by an instrument entitled Multi-annual Financial Framework.
The multi-annual Financial Framework
The EU’s Multi-annual Financial Framework (MFF) sets out spending ceilings for each policy category or “heading”. The MFF is also known as the EU’s “Financial Perspectives”.
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The financial framework shall determine the amounts of the annual ceilings on commitment appropriations by category of expenditure and of the annual ceiling on payment appropriations.
The categories of expenditure, limited in number, shall correspond to the Union’s major sectors of activity.
The EU’s Multi-annual Financial Framework 2014-2020
Council Regulation (EU, EURATOM) no. 1311/2013 of 2 December 2013 laid down the multiannual financial framework for the years 2014-2020.
Total commitment appropriations for the financial framework 2014-2020 is 959.988 EUR million, of which per year:
- 2014: 134.318 EUR million
- 2015: 135.328 EUR million
- 2016: 136.056 EUR million
- 2017: 137.100 EUR million
- 2018: 137.866 EUR million
- 2019: 139.078 EUR million
- 2020: 140.242 EUR million.
Commitment appropriations by headings
Total: 959.988 EUR million
1. Smart and Inclusive Growth: 450.763 EUR million, of which:
1A: Competitiveness for growth and jobs: 125.614 EUR million
1B: Economic, social and territorial cohesion (including regional policy): 325.149 EUR million
2. Sustainable Growth: Natural Resources: 373.179 EUR million
3. Security and citizenship: 15.686 EUR million
4. Global Europe: 58.704 EUR million
5. Administration (including Administrative expenditure of the institutions): 61.629 EUR million.
- Compensations: 27 EUR million.
Each heading is further subdivided into “budgetary lines”, each of which can be mobilized for specific purposes.
Sources:
COUNCIL REGULATION laying down the multiannual financial framework for the years 2014-2020
- European Parliament, News-
An introduction to the EU’s Multi-annual Financial Framework