MFF 2021-2027 Recovery Plan

In May 2020, the Commission has proposed a powerful, modern and revamped long-term EU budget boosted by Next Generation EU, an emergency temporary recovery instrument, to help repair the immediate economic and social damage brought by the coronavirus pandemic, kickstart the recovery and prepare for a better future for the next generation.

This proposal builds on the 2018 Commission’s proposal and on the considerable progress that has already been made in the European Parliament and the Council. To ensure an effective implementation of the Recovery Plan, which reaches out to everybody in the EU and to our global partners, the Commission is mobilising a variety of instruments, organised around three pillars:

EU budget powering recovery - 3 pillars

The proposed EU budget will power a fair socio-economic recovery, repair and revitalise the Single Market, guarantee a level playing field, and support the urgent investments – in particular in the green and digital transitions – which hold the key to Europe’s future prosperity and resilience.

Unprecedented investments to restore and rebuild Europe

Press material

Press release

Questions and Answers

Questions and Answers related to the MFF proposal and the sectoral programmes presented in May 2020.

Speeches

Speeches by President von der Leyen and European Commissioners on the proposals for the 2021-2027 EU long-term budget and sectoral programmes.

FactsheetMay 2020

MFF Factsheets

Factsheets on the Commission's proposal for the 2021-2027 Multiannual Financial Framework.
FactsheetMay 2020

Sectoral factsheets

Factsheets on the sectoral programmes presented in May 2020 with the Commission's proposal for the 2021-2027 Multiannual Financial Framework.

Latest

On 21 July, after four days of negotiations, EU leaders agreed on a record-high €1.82 trillion long-term budget including a temporary recovery instrument, Next Generation EU, based on the Commission proposal of 27 May 2020. To finance Next Generation EU they decided, for the first time in European history, to enable the Commission to borrow funds on the markets and use them to finance the recovery.

Please find here a link to the Conclusions adopted by the European Council.

Documents

May 2020

MFF Legislation

The Commission’s proposal for the 2021-2027 Multiannual Financial Framework and system of Own Resources.
May 2020

Sectoral legislation

The sectoral legislation governing the programmes of the 2021-2027 Multiannual Financial Framework.

Timeline

Next steps:

  • May 2020

    Commission proposal for the revised Multiannual Financial Framework 2014-2020 & 2021-2027 and Own Resources Decision + sectoral legislation

  • By July 2020

    European Council: Political agreement on Multiannual Financial Framework 2014-2020 & 2021-2027 and Own Resources Decision

  • By summer 2020

    European Parliament’s consultation on Own Resources Decision

  • Early autumn 2020

    Adoption of the revised Multiannual Financial Framework 2014-2020 + corresponding sectoral legislation

  • October 2020

    European Council

  • December 2020

    Adoption of the revised Multiannual Financial Framework 2021-2027
    (European Parliament’s consent)

    Adoption of the Own Resources Decision
    (Ratification by all Member States in line with their constitutional requirements)

  • January 2021

    Multiannual Financial Framework 2021-2027 implementation starts

Proposal May 2018

For more information on the Commission's proposal adopted in May 2018, see:

EU budget for the future