EU devoting more resources to boost jobs and growth
The European Union is devoting more resources to help boost jobs and growth and to address the migration crisis. It is also strengthening its capacity to react to unexpected events. These are the main purposes of a revised EU budgetary framework for 2014-2020 which was adopted by the Council on 20 June 2017. The Multiannual financial framework (MMF) regulation sets out annual maximum amounts which the EU is allowed to spend on different policy areas over the period from 2014 to 2020. It translates political priorities into figures, ensures budgetary discipline for the EU and facilitates the adoption of the annual EU budget.
The revised multi-annual financial framework increases the resources earmarked for the EU’s main priorities by €6.01 billion for the years 2017-2020. The increased scope for recycling unused payments will also reduce the risk of an excessive backlog of unpaid bills. In addition, the Council and the European Parliament undertook to take steps to avoid the excessive accumulation of unpaid bills. The revised MFF regulation will now be published in the EU Official Journal and enters into force 20 days later.
See the full regulation here. http://data.consilium.europa.eu/doc/document/ST-14942-2016-INIT/en/pdf