Introductory text

THE EUROPEAN PARLIAMENT AND THE COUNCIL OF THE EUROPEAN UNION,

Having regard to the Treaty on the Functioning of the European Union,

Having regard to the Interinstitutional Agreement of 2 December 2013 between the European Parliament, the Council and the Commission on budgetary discipline, on cooperation in budgetary matters and on sound financial management^f1, and in particular the second paragraph of point 14 thereof,

Having regard to the proposal from the European Commission,

Whereas:

Article 13 of Council Regulation (EU, Euratom) No 1311/2013^f2 has established a Contingency Margin of up to 0,03 % of the gross national income of the Union.

In accordance with Article 6 of Regulation (EU, Euratom) No 1311/2013, the Commission had calculated the absolute amount of the Contingency Margin for 2014^f3.

By Decision (EU) 2015/435^f4, the European Parliament and the Council mobilised the Contingency Margin for making available additional payment appropriations in 2014, to be offset in 2018-2020.

According to the medium-term payment forecast presented in the context of the Mid-Term Review, pressure on the annual payment ceilings in the years 2018-2020 is to be expected.

The draft budget for the year 2017 shows a margin below the payment ceiling of EUR 9,6 billion, allowing for the offsetting of the full amount mobilised in 2014.

Decision (EU) 2015/435 should therefore be amended accordingly,

HAVE ADOPTED THIS DECISION: