Mid-term revision of the Multiannual Financial Framework

Background:

The EESC has issued key recommendations for the mid-term revision of the Multiannual Financial Framework (MFF) 2021-2027. The Committee calls for a prompt agreement on the MFF revision still this year, to guarantee continued financial backing of Ukraine and financing the EU´s evolving political priorities. However, the EESC criticizes the proposed changes as being too limited and lacking ambition, resembling mere patches. It advocates for long-term strategies centred on fiscal sustainability, efficient resource allocation, and measures to guard against unexpected events. Civil society should be engaged for effective monitoring.

Key points:

In the opinion, the EESC

• strongly calls for a swift agreement on the revision of the MFF 2021-2027, with a focus on ongoing support for Ukraine and ensuring the EU has the necessary financial resources to address its political priorities. Furthermore, the EESC emphasizes the significance of implementing effective monitoring mechanisms by actively involving civil society in the planning and execution of MFF programs;
• finds that the changes proposed in the revision are limited, showing a lack of ambition and amounting to merely patching up the framework;
• recommends long-term strategies, including creating a sustainable fiscal framework minimising exposure to interest rates, allocating administrative resources more efficiently and incorporating preventive measures for unforeseen events;

…

Additional information:

EESC section: Economic and Monetary Union and Economic and Social Cohesion (ECO)

Opinion type: Optional Opinion

Rapporteur: Elena-Alexandra CALISTRU (Diversity Europe - GR III/Romania), Konstantinos DIAMANTOUROS (Employers - GR I/Greece), Stefano PALMIERI (Workers - GR II/Italy)

Reference: ECO/625-EESC-2023-2023-03172

Referral: COM(2023) 336 final

Date of adoption by section: 8/09/2023

Date of adoption in plenary: 20-21/09/2023

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