Europe's budget: NEXTGENEU & Multiannual Financial Framework

The adoption of the Multiannual Financial Framework (MFF, 2021-2027), together with the NextGenerationEU – amounting to more than €2tn – marked pivotal steps in the EU’s response to unprecedented challenges, demonstrating a commitment to solidarity and strategic investment in the Union’s future.

In 2024 a strategic adjustment to the MFF was agreed to further enhances the EU’s ability to support critical areas such as aid for Ukraine, competitiveness, sovereignty and crisis resilience. The NextGenerationEU package, now in its third year of existence, has become a cornerstone for Europe’s economic recovery and sustainability transition, demonstrating tangible impacts on green and digital transformations across the Union.

This conversation with Iliyana Tsanova, Chief Risk Officer of the European Commission and Deputy Director-General for Budget (DG BUDG) will provide our members with a timely assessment of the EU budget, achievements and lessons extracted of the MFF and NextGenerationEU, and the way forward given recent geopolitical developments and the upcoming elections.

‘What the Chief Says’ events are exclusive, small, informal and off-the-record roundtable debates that offer our members the exclusive opportunity to engage directly and get to the heart of a specific policy issue with a senior decision-maker from a European institution or government. These events are geared to be in tune with the interest of our members and are strategically linked to emerging trends within the EU sphere. It allows us to focus on the opportunities and identify the possible challenges in the European Commission’s own agenda and provides the possibility to go into greater depth and discuss the ‘nitty gritty’ of policies affecting Europe in the next years and beyond.

This 60-minute discussion, crucial for understanding the EU’s fiscal strategy in navigating and overcoming contemporary economic, social and political challenges, will consist of a 10-minute introduction to the topic by Iliyana Tsanova, after which Friends of Europe’s members will have the opportunity to pose comments or ask questions in an off-the-record exchange.

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Photo credits: European Commission