Commitments and payments

Last week’s deal on the 2014-20 multi-annual financial framework sets ceilings for spending. Every year, the member states and MEPs will negotiate an actual budget, with the totals remaining within the overall ceilings.  There are two categories in the MFF and in the annual budgets – one known as ‘commitments’ (under the new MFF, these are capped at €960 billion), the other as ‘payments’ (capped at €908bn).

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