Brussels, Belgium. Cyprus Finance Minister Makis Keravnos on Friday welcomed an agreement among European Union member states on a mechanism to monitor and evaluate the bloc’s next multiannual financial framework for 2028 to 2034. The mechanism is known as the performance framework regulation.
Minister welcomes agreement
Keravnos said every budget requires appropriate oversight and evaluation and that the multiannual financial framework is no exception. He said the new performance regulation is designed to deliver maximum transparency, accountability and visibility for the EU budget.
He added that the aim is to ensure the budget delivers for member states, regions, beneficiaries and citizens.
Purpose of the new regulation
The performance framework regulation is intended to simplify how the multiannual financial framework is monitored. The Council of the EU said it aims to increase coherence between budgetary programmes, reduce complexity for beneficiaries, boost transparency and lower costs across the board.
As agreed by member states on Friday, the regulation will set out principles and targets across the multiannual financial framework, including the principle of doing no significant harm, as well as principles related to gender equality and the environment.
Monitoring and reporting changes
The regulation also seeks to harmonise the system through which EU spending is monitored and to optimise budget performance reporting, including through the creation of a new online single gateway.
In addition, it will introduce common rules for the evaluation of programmes and activities.
Next steps in negotiations
Friday’s agreement allows the Council of the EU to enter negotiations with the European Parliament on the makeup of the monitoring mechanism. The council said its position will seek to provide legal certainty, operational stability and flexibility to member states.
The council said it wants to strengthen monitoring of the principle of doing no significant harm, particularly with regard to the environment, by requesting that the European Commission develop a methodology for assessing compliance.
It also said it wants to improve efficiency and reduce administrative burdens, and will push for reporting requirements for member states on their use of EU funds to be proportionate and in line with the once-only principle.
