EU budget: European Commission adopts proposal for next Multiannual Financial Framework | Practical Law
On 29 June 2011, the European Commission adopted a proposal for the multi-annual budget that will cover the years 2014 to 2020. The overall amount proposed for the next seven years is EUR 1,025 billion in commitments (1.05% of the EU GNI) and EUR 972.2 billion in payments (1% of EU GNI).