EU heads of state and government will discuss the EU’s long-term budget for 2021-2027 during a special meeting of the European Council on 20 February 2020, Report informs, citing Interfax.

In his invitation letter, the President of the European Council Charles Michel said: “The time has come to reach an agreement at our level on the multiannual financial framework.”

According to him, any postponement would create serious practical and political problems and jeopardize the continuation of current programs and policies as well as the launch of new ones.

“I am fully aware that these negotiations are among the most difficult ones we have to face. But I am also convinced that with common sense and determination, we can strike a deal that will benefit all Europeans,” the invitation letter reads.

The European Council held individual negotiations with all the leaders of the EU Member States on the future budget during the preparation of the summit. Based on these consultations, Michel will present a proposal for the total budget amount and its distribution by the EU plans.

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Earlier, on the sidelines of the Munich security conference, the Foreign Ministers of Ukraine, Georgia, and Moldova asked the European Commission to provide financial support to the Eastern partnership regions within the framework of the EU’s Economic Outlook for 2021-2027.