SCIENTIFIC COLLECTION «INTERCONF» | № 3(39)
980
for the European Parliament and the Council [4].
This forecast report states an estimate of the expenditure cash flows in the
framework of the ceilings of the following Multiannual financial framework and the
corresponding revenue cash flows during the next five years on the basis of the revised
draft of the Multiannual financial framework of May 2020. In this context it should be
noted that above mentioned revised Multiannual financial framework will be, in its
essence, a fundamental pillar of the recovery of the European Union's economy in the
horizon of a few years.
Overall, in the first five years of the next Multiannual financial framework, the
payments are expected to reach 866 billion EUR. This amount isn’t
evenly distributed
across the years but follows the expected evolution of: the phasing-in of payments for
the new spending programs (around 67% of the 5-year payments’ total); and the
payments for outstanding commitments from the 2014 to 2020 period (the remaining
33% of the payments) [4].
As we indicated at the beginning of this article, in the context of the pandemic,
the European Union had to react flexibly to the arisen situation and in its essence
urgently mobilize the amounts to finance appropriate measures. In the framework
of the general budget of the European Union for the financial year 2020, the
flexibility instruments shall be mobilized to provide the amount, and that: in the
amount 73 300 000 EUR – this amount will be used to finance immediate measures
in the context of a pandemic and to the strengthening
of the European Public
Prosecutor's Office [5]; in the amount 243 039 699 EUR – this amount will be used
to finance immediate measures to solving the current health crisis in the European
Union due to a pandemic [6]. Both flexibility instruments are bound in
appropriations in the circuit titled Security and Citizenship in the Multiannu al
financial framework.
Within the general budget of the European Union for the financial year 2020
beyond framework of the ceiling of commitment appropriations within the circuit titled
Security and Citizenship of the Multiannual financial framework
shall be mobilized
SCIENCE AND PRACTICE: IMPLEMENTATION TO MODERN SOCIETY
981
reserve for unforeseen events in the amount 714 558 138 EUR in commitment
appropriations. This total amount will be credited against the reserve in the framework
of ceiling of commitment appropriations for the financial year 2020
for the circuit
entitled Administration of the Multiannual financial framework [7].
It can be clearly observed that pandemic in the point of view of the scale and
intensity has practically affected every sphere that is financed,
so to speak, from
European money. Therefore was important, even necessary, that the European Union's
decision-making bodies adopt the above mentioned instruments with the potential to
help recover (restart) the economy within the European Economic Area. At the same,
it´s important to say that special attention deserves adoption of effective measures to
increase the self-sufficiency of the European Union (as a whole) in the context of a
sustainable economy.
In its essence, these are specific areas within the European Union's economy that
need to be given due attention. As this is a common interest within the priority areas,
inter alia, as we mentioned in this article, it can be anticipated that the competent bodies
of the European Union, in the framework
of its institutional base, will make a joint
effort in order to active recover the economy in the shortest possible time (at least) to
the so-called pre-crisis level. Some suggestions presented in this article are to be
understood only in terms of academic opinions and de lege ferenda proposals.
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