The European Commission late last month adopted a proposal to amend the European Union (EU) budget this year to reflect the changes made following the agreement between the European Parliament and the Council on the revision of the Multiannual Financial Framework (MFF) for 2021-2027.

The amendment will enable the EU to continue delivering this year on the EU's common priorities, for the benefit of the bloc’s citizens and beyond.

In particular, it will reinforce EU support to Ukraine, boost investments in critical technologies and defence, and provide additional resources to support partners in the Western Balkans.

The EU budget will now also be better equipped to help member states affected by natural disasters and countries facing humanitarian crises, an official release said.

This amendment amounts to a raise of over €5.8 billion covering several elements.

The Commission has submitted the draft amending budget to the European Parliament and the Council, for their approval.

To ensure the EU budget can continue to deliver on the most essential objectives, the Commission proposed in June last year to reinforce the EU's long-term budget.

On February 1 this year, EU leaders confirmed all priorities of the Commission's proposal and agreed on the first-ever revision of the EU's long-term budget.

Fibre2Fashion News Desk (DS)

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