EU Multiannual Financial Framework (2021-2027)

EU Multiannual Financial Framework (2021-2027)

On May the 27th 2020, the European Commission published its revised proposal for the EU Multiannual Financial Framework (2021-2027) combined with a special new financial recovery instrument called Next Generation EU aimed at helping Member States recover from the ongoing crisis.

The recovery plan proposed by the Commission, specifically consists of extraordinary funding of € 750 billion to be invested across three pillars: a new recovery and resilience facility of € 560 billion which will be allocated to Member States with a mix of loans and grants (45/55%); a new Solvency Support Instrument with a budget to support private companies; and a third pillar, called “Addressing the lessons of the crisis”, that includes a new health programme, EU4Health, to strengthen health security and prepare for future health crises.

The EU budget proposal specifically allocates to the Erasmus+ programme a budget of 24.6 billion euros in 2018 prices, which in current prices amounts to 27.9 billion euros. The figure presented for the Erasmus+ programme is higher in comparison to the 21.2 billion euros proposed and discussed by EU leaders on February earlier this year but still is well below the 30 billion figure that the EC had proposed in May 2018 and far from the ambitions of the European Parliament and Commission President Ursula von der Leyen herself.

There has been criticism from the part of the European Parliament Committee on Culture and Education regarding how this change from the Commission’s original proposal, especially considering the fact that the Erasmus+ programme is designed to build Europe’s future. Indeed the figures for the education, culture and youth programmes shouldn’t fall this short of the demands of the European Parliament and the ErasmusX10 Campaign but it can still be considered that the budget allocation to Erasmus+ programme is a reasonably good result in the context of the current crisis.

What do you think regarding the revised EU budget proposal and the budget allocated to the Erasmus+ programme? Let us know in the comments section below!


For more info:
Key information related to the EU budget proposal can be found here, while a general overview of the new MFF proposal can be found here and a factsheet with more information about specific funding programmes here. An overview of figures part of the EU budget proposal, for all programmes can be found in the final pages of the main EC Communication.

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