The Maltese EU Council Presidency has secured an agreement on the mid-term financial review.

The EU Ministry said the agreement was reached notwithstanding the prevalent divergences between states over this framework.

Speaking at the press conference following the conclusion of the general affairs council meeting in Brussels today, Minister Louis Grech stated that this milestone would ensure that the EU budget would be even more effective in tackling current challenges and responding to unexpected needs.

“It also avoids undue pressure on member states' national budgets at a time of continuing efforts to consolidate public finances."

The multiannual financial framework (MFF) sets limits for the annual general budgets of the European Union by determining the total and amounts for different areas of activity the EU could use each year when it enters legally binding obligations.

The revised MFF will provide a reinforcement of €6.01 billion over 2017 to 2020 for migration, reinforcement of security and the strengthening of external border control.

It also improves the EU's capacity to respond more quickly to unexpected needs.

To this end, the amounts for the emergency aid reserve and the flexibility instrument will be increased (by an average of €23 million and €145 million per year respectively for the years 2017 -2020.

The council agenda included also the finalisation of preparations for the March European Council to be held this week.

This will focus on jobs, growth and competitiveness. 

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