[Prospects for the European Union's Budgetary Policy]

The European Union has launched the Next Generation EU (NGEU) fund to support the economic recovery of its member states during and after the coronavirus pandemic. The fund aims to promote cohesion and the green and digital transformation in Europe. At the same time, the EU has only slightly increased its budget under the Multiannual Financial Framework 2021 to 2027. The financial support from the EU is assessed positively. However, it remains questionable where the national priorities lie and whether the set goals actually enable structural changes in the EU. In any case, NGEU changes the financial architecture of the EU, as the fund is to be financed through common bonds. What consequences this may have for the structure of EU finances in the long term and which reform approaches make sense is the subject of debate.