EU budget 2021: European Commission acts swiftly to ensure timely adoption

Following yesterday’ s agreement at the European Council on the long-term EU budget for 2021-2027 and the temporary recovery instrument, NextGenerationEU, the European Commission put forward a second draft budget for 2021. This is a procedural step that fully reflects the informal political agreement reached between the European Parliament and the Council under the steer of the Commission on 4 December 2020. The draft budget foresees €164 billion in commitments and €166 billion in payments. Once adopted, this budget – which will be the first under the 2021-2027 Multiannual Financial Framework – will allow the EU to mobilise significant public funds for a continued EU response to the coronavirus pandemic and its consequences; to kick-start a sustainable recovery and to protect and create jobs. It will enable us to start investing in the future to achieve a greener, more digital and resilient Europe. Commenting on the proposal, Commissioner Johannes Hahn, responsible for the Budget, said: “I strongly welcome that we are moving towards the finalisation of the EU’s 2021 budget. Once adopted, all EU citizens will benefit from this budget, which will directly support our common recovery, our researchers, businesses and farmers, but also regions and our external partners. As a next step, this proposal needs the swift approval of the Council in order for the European Parliament to vote on it at its plenary session between 14 and 17 December. This would make it possible for the budget to enter into force on 1 January 2021.