European Council reaches common understanding with the European Parliament regarding EU Budget

According to a press release from the European Council , the  Council and the Parliament have  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. 

As per the agreement , the total commitments in the 2021 budget are set at €164.2 billion. €0.8 billion of margins are kept available under the expenditure ceilings of the next multiannual financial framework to give the EU sufficient leeway to react to unforeseeable needs that may arise next year, including in relation to the COVID-19 crisis.

Total payments amount to €166.1 billion. Funding under the draft budget has been directed towards mitigation of the effects of the COVID-19 pandemic, support for a sustainable recovery and the EU’s green and digital transitions, in line with the priorities addressed in the next multiannual financial framework. 

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