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The Multiannual Financial Framework of the European Union after 2020

Author

Listed:
  • Svetla Boneva

    (Secretary General for Scientific Research Projects, University of National and World Economy, Sofia, Bulgaria)

  • Filip Petkov

    (Department of International Economic Relations and Business, University of National and World Economy, Sofia, Bulgaria)

Abstract

The objectiveof the research is to summarise and analyse the proposal of the European commission concerning the Multiannual Financial Framework (MFF) of the European union (EU) for the period 2021-2027. The temporal scope of the research comprises the initial pre-covid ideas of the proposal that will be kept in the final post-covid version of the MFF which is currently under debate and is expected to be approved in the end of 2020. The research methodsthat have been used in the current research are: content analysis of European institutions’ documents and of research papers analysing these documents; comparisons between different EU member states positions; and generalizations. As a result of the research the main conclusion is that the post-2020 MFF brings notable changes in structural terms. The most reformed category of expenditure is “Cohesion and Values” which combines several instruments from the MFF 2014-2020. Though there is no fundamental shift in the EU priorities, it can be argued that the cohesion policy and the common agricultural policy are seriously cut not only because of Brexit but also due to the redirection of budget resources to other priorities such as migration management, border control and security instruments.

Suggested Citation

  • Svetla Boneva & Filip Petkov, 2020. "The Multiannual Financial Framework of the European Union after 2020," Business & Management Compass, University of Economics Varna, issue 3, pages 256-272.
    • Handle: RePEc:vrn:journl:y:2020:i:3:p:256-272
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    References listed on IDEAS

    as
    1. Kristina van Deuverden, 2018. "EU Commission Proposal for 2021–2027 Budget: Lost Opportunities," DIW Weekly Report, DIW Berlin, German Institute for Economic Research, vol. 8(41), pages 395-402.
    2. Teodoro Gallucci & Vesselina Dimitrova & Georgi Marinov, 2019. "Interrelation between Eco-Innovation and Intra-Industry Trade—A Proposal for a Proxy Indicator of Sustainability in the EU Countries," Sustainability, MDPI, vol. 11(23), pages 1-13, November.
    3. Ferrer, Jorge Núñez & Rinaldi, David, 2016. "The Impact of Brexit on the EU Budget: A non-catastrophic event," CEPS Papers 11814, Centre for European Policy Studies.
    4. Busch, Berthold & Matthes, Jürgen, 2018. "On the future of the European Union: Normative derivation and restructuring potential in the new Multiannual Financial Framework," IW policy papers 10/2018, Institut der deutschen Wirtschaft (IW) / German Economic Institute.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    European union; Multiannual financial framework; European union budget;
    All these keywords.

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration

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