The EU multiannual financial framework (MFF) ensures for periods of 7 years each the financing of common programmes in all policy areas in Europe ranging from agriculture to research, from regional policy to foreign aid. With Brexit looming, the EU has to face a funding gap of around 15 billion euros per year for the next budgetary period 2021-2027. At the same time, it has to tackle new challenges such as migration, security and defence, the digital transition and climate change. Many Member States have already rejected both expenditure increase and cuts in agricultural and regional funds, as well as new criteria for the allocation of money linked to rule of law and refugees.
EU BUDGET
A new framework for funding the future of Europe
EU budget summit ends with no deal
An EU summit called to set the bloc's next seven-year budget has ended in impasse, riven by competing groups and pressure to fill a funding gap left by Brexit
Brexit punches 12-bln-euro hole in EU finances
When Britain leaves the EU at midnight on Friday the bloc will lose the second-biggest net contributor to its budget, leaving a 12-billion-euro ($13-billion) hole in its finances
Budget battle hampers EU in space
Space is becoming increasingly militarised and European satellites are under-protected, experts have warned, voicing dismay at cuts proposed in the EU's draft budget
EU states, lawmakers to make final push for 2020 budget deal
The EU member states and the European Parliament are trying to agree on next year's budget plan before the approaching deadline.
Ministers fall short of finalizing eurozone budget plans
The finance ministers in the Eurozone have agreed on introducing a budget tool for the 19-member states during a lot of negotiations and discussions. However, a lot of issues remain unclear.
EU raises heat on Italy over high debt, deficit
The European Commission has formally put Italy on notice about its deteriorating deficit and snowballing debt, re-opening a political battle with populist-led Rome