Photo: European Parliament
The EU is simplifying the rules on using money from the EU budget. On 19 April 2018, the Council’s Permanent Representatives Committee (Coreper) endorsed an agreement reached with the European Parliament on the so-called Omnibus regulation on EU financial rules. The regulation will amend the existing financial regulation which sets out a general framework for budget management, as well as a series of acts governing EU multiannual programmes in specific fields, including cohesion policy.
There will be simpler rules on using different types of funds, whether these are managed directly by the Commission, indirectly by various organisations and bodies, or jointly with national authorities.
"The main driver behind this reform was our wish to make life easier for those benefitting from and managing EU funds. This has been a clear request to EU lawmakers in recent years. But other benefits can be expected as well. We expect quicker implementation, with fewer costs, greater impact of policies on the ground and easier access for small beneficiaries."
Marinela Petrova, Deputy Finance Minister of Bulgaria
Read the full press release on the website of the Council of the European Union.