The revision of the Financial regulation includes important measures of simplification which will bring about direct benefits to the stakeholders, as they will apply to the implementation of all programmes with the exception of programmes in shared management. The main benefits concern shorter payment deadlines, enhanced predictability of EU spending through multi-annual work programmes, the abolition of the obligation of beneficiaries of grants to return interest earned on pre-financing, simplified cost forms of grants cutting administrative burden for low-value contracts and grants, electronic communication with beneficiaries and authorities.
The Commission considers that macroeconomic conditionality is indeed a strong
instrument to keep cohesion policy focused on growth and economic development, in line with the objectives of the Europe 2020 Strategy, and that it will enhance the impact of the expenditure when it is linked more closely to sound macro-economic conditions in the recipient Member States.
See on ec.europa.eu