Multiannual Financial Framework

The Multiannual Financial Framework (MFF) of the European Union (EU), also called the financial perspective, is a seven-year framework regulating its EU annual budget. Proposed by the European Commission, it is laid down in a unanimously adopted Council Regulation with the consent of the European Parliament. The financial framework sets the maximum amount of spendings in the EU budget each year for broad policy areas (“headings”) and fixes an overall annual ceiling on payment and commitment appropriations.