The Regulation sets the EU’s seven‑year budgetary framework (the MFF) for 2021‑2027, establishing the maximum annual ceilings for commitments and payments across the major spending headings and ensuring predictability for medium‑term investments. It obliges the EU institutions to comply with these ceilings when preparing and implementing the annual budgets.
The Regulation has been amended to respond to evolving circumstances—including support for Ukraine and adjustments for “new own resources”— through Council Regulation (EU, Euratom) 2022/2496 and Council Regulation (EU, Euratom) 2024/765, which modify the ceilings and flexibilities within the MFF to reflect changing financial and geopolitical priorities.
