March 8, 2017 – The European Council announced that it will adjust the EU's multi-annual financial framework (MFF) for 2014-2020 to bring it in line with new priorities. The MFF regulation sets out annual maximum amounts that the EU is allowed to spend on different policy areas, translating political priorities into figures while ensuring budgetary discipline. The agreed upon changes will strengthen the EU's support for tackling the migration crisis, security issues, economic growth, and unemployment, allowing quicker responses to unexpected needs. Specifically, €2.55 billion will be available to address migration, reinforce security, and strengthen external border control. €1.39 billion will stand ready for tackling the root causes of migration, and €2.08 billion will help stimulate growth and create jobs through a number of highly effective programs such as the youth employment initiative (+€1.2 billion), Horizon 2020 (+€200 million), and Erasmus+ (+€100 million). The revised MFF regulation still needs the consent of the European Parliament before it can be adopted by unanimity by the Council.
- The original article press release is available from the European Council.