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EU budget for 2021: Council and Parliament reach common understanding

The Council and the Parliament recently (04 December 2020) reached a common understanding on the content of the EU budget for 2021, based on the multiannual financial framework for 2021-2027 preliminarily agreed earlier this year.

The common understanding was reached in the budgetary conciliation committee, pending clarity on the adoption of the multiannual financial framework for 2021-2027. In order for the budget to be formalised, the next multiannual financial framework will need to be adopted first.

Michael Clauß, Permanent Representative of Germany to the EU recently said:

This is a good result based on the agreement reached on the next multiannual financial framework. I am glad that it has been achieved in a record time due to the excellent cooperation between the EU institutions. This shows that Europe can pull together in times of crisis. However, the budget for 2021 can only enter into force once the blockage on the overall EU budget and recovery package is lifted. Without this, we are looking at a drastic cut in EU funding from the beginning of next year.

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