|Author (Corporate)||European Commission: DG Budget|
|Series Details||COM (2021) 30|
Draft Amending Budget No 1/2021 to the General Budget for 2021, addressing the pre-financing needs resulting from the implementation of the Brexit Adjustment Reserve (BAR).
The adoption of a Regulation concerning the Brexit Adjustment Reserve provided for the establishment of a Reserve within the thematic special instruments outside of the EU Budget ceilings of the Multiannual Financial Framework, to counter unforeseen and adverse consequences in Member States and sectors that were most affected by the impact of the withdrawal of the United Kingdom (UK) from the European Union.
The purpose of the DAB No 1/2021 is to enter in the EU annual budget for 2021 an amount of €4,000,000,000 (2018 prices) both in commitments and in payment appropriations, to meet the pre-financing needs resulting from the implementation of the Brexit Adjustment Reserve in 2021. The maximum resources for the implementation of the Reserve amount to €5 000 000 000 (2018 prices).
The draft amending budget was tabled by the European Commission on 22 January 2021. The Council of the European Union adopted its general approach on this file on 19 July.
|Subject Categories||Economic and Financial Affairs|
|Subject Tags||Brexit, EU Budget, Regional Dimension|
|International Organisations||European Union [EU]|