State of the Union 2016: EU budget review further focuses budget on priorities, ensures more flexibility and less red tape

On the occasion of his State of the Union speech on 14 September 2016, European Commission president Jean-Claude Juncker presented the mid-term review of the multiannual EU budget (2014-2020).

The proposed package should free up an additional €6,3 billion in financing, which should go to foster job creation, investment and economic growth and to address migration and its root causes. The budget should be also better equipped and quicker to respond to unforeseen circumstances.

The mid-term review was part of the political agreement on the Multiannual Financial Framework (MFF) 2014-2020 and is provided for in Article 2 of the Council Regulation 1311/2013 ('MFF Regulation'). This MFF was agreed in 2013 against the background of the economic crisis and its impact on public finances. For the first time in EU history the seven-year framework is smaller than the previous one.

European Commission: DG Communication: RAPID: MEMO/16/2983, 14.09.16: State of the Union 2016: The European Fund for Strategic Investments (EFSI) - Frequently Asked Questions http://europa.eu/rapid/press-release_MEMO-16-2983_en.htm

ESO: Background information: Mid-term review/revision of the 2014-2020 Multiannual Financial Framework http://www.europeansources.info/record/mid-term-review-revision-of-the-2014-2020-multiannual-financial-framework/

EurActiv, 14.09.16: Midterm budget review digs in EU’s hidden pockets http://www.euractiv.com/section/eu-priorities-2020/news/midterm-budget-review-digs-in-eus-hidden-pockets/

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