2023-06-15 14:26:35
Next week, the European Commission (EC) will publish a review of the European Union’s (EU) Multiannual Financial Framework – the document that sets the Union’s spending ceilings from 2021 to 2027. A revision proposal is also expected to be made. However, it will not affect the funds provided for the Cohesion Fund and the Common Agricultural Policy (CAP).
This was reported by the European commissioner for budget and administration Johannes Hahn at a meeting with the Prime Minister Academician Nikolay Denkov. The guest also spoke with the Deputy Prime Minister and Minister of Foreign Affairs Maria Gabriel.
The mid-term review of the Multiannual Financial Framework is necessitated by the multiple crises that could not have been foreseen when it was adopted in 2020 – the consequences of the covid pandemic, the war in Ukraine and the inflation associated with these two events, the European Commissioner explained.
It is planned to create new financial instruments. The EC will propose, for example, a European Sovereignty Fund to finance companies operating in strategic areas for the EU. The aim is to accelerate Europe’s industrial and technological development in areas with high potential such as green and biotechnology, the transition to a digital economy. It is also expected to introduce greater flexibility in the use of funds from the European Regional Development Fund.
EU Commissioner Johannes Hahn welcomed the formation of a regular Bulgarian government with a clear European orientation and promised support from the EC.
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