Swift agreement on the Multiannual Financial Framework (MFF) revision, as proposed by the Commission in June 2023, is urgently needed in order to provide the necessary resources for crucial new needs, which cannot be financed under the MFF ceilings as they currently stand. This is particularly necessary to enable the EU to respond to the consequences of Russia's war of aggression in Ukraine on a stable footing, the continued migratory pressures and their root causes, EU response to natural disasters, and the global competition on key critical technologies.

However, today, the European Parliament and the Council of the European Union have reached an agreement on the EU budget for 2024, which notably will help address the most urgent consequences of the crisis in the Middle East in the countries concerned, as well as in Europe and its neighbourhood.