What is the EU multiannual financial framework?

What is the EU multiannual financial framework?

The Multiannual Financial Framework (MFF) of the European Union, also called the financial perspective, is a seven-year framework regulating its annual budget. It is laid down in a unanimously adopted Council Regulation with the consent of the European Parliament.

What is a financial framework?

The ‘financial framework’ is the term for the policies, procedures, regulations and standing orders we use to make sure we’re taking proper care of public money. The Chief Finance Officer is responsible for making sure that financial decisions are sensible and follow the law.

WHO adopts the framework Programme for research and Unis within the MMF?

The Programme has to be adopted by the Council of the EU and European Parliament by autumn 2020 the latest in order to enable a timely start at the beginning of 2021.

What is a multiannual plan?

Multiannual plans (MAPs) are an important tool for fisheries management that helps to ensure the sustainable exploitation of fish stocks.

What is the accounting framework?

An accounting framework is a published set of criteria that is used to measure, recognize, present, and disclose the information appearing in an entity’s financial statements.

What are the purposes of conceptual framework?

The Conceptual Framework (or “Concepts Statements”) is a body of interrelated objectives and fundamentals. The objectives identify the goals and purposes of financial reporting and the fundamentals are the underlying concepts that help achieve those objectives.

What is the external action guarantee?

The External Action Guarantee will allow the EU to reduce the risk forpublic and private investment operations in partner countries covered by the NDICI and by the Instrument for Pre-Accession Assistance III (under the EFSD+), and to support those countries experiencing a balance of payments crisis (with macro- …

How much is the EU Multiannual Financial Framework?

On 2 May 2018, the Commission presented legislative proposals for an MFF covering the years 2021 to 2027. The Commission’s proposal amounted to EUR 1 134.6 billion (2018 prices) in commitment appropriations, representing 1.11% of the EU-27’s GNI.

When did Parliament pass the Multiannual Financial Framework?

On 14 November 2018, Parliament further outlined its negotiating mandate, including amendments to the MFF Regulation and IIA proposals and a complete set of figures with a breakdown by heading and by programme.

How is the MFF adopted by the Parliament?

National governments have expressed a range of views. The MFF will be adopted by Council after the Parliament has given its consent. The new own resources decision will also be adopted by Council, after consulting the EP.

When was the Multiannual Financial Framework and recovery package reached?

The agreement has been reached following intensive consultations with the Parliament and the Commission that have been underway since the end of August.

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