In 2020, the EU provided an unprecedented response to the coronavirus crisis that hit Europe and the world. At its heart is a stimulus package worth EUR 2.018 trillion in current prices (EUR 1.8 trillion in 2018 prices). It consists of the EU’s long-term budget for 2021 to 2027 of EUR 1.211 trillion (EUR 1.074 trillion in 2018 prices), topped up by EUR 806.9 billion (EUR 750 billion in 2018 prices) through NextGenerationEU, a temporary instrument to power the recovery. The EU sets the limits of its spending in the multiannual financial framework , the EU’s long-term budget for the next 7 years. In this way, the EU secures the resources for its political priorities, like digitalisation and green deal. The budget also ensures room for flexibility, thus enabling the EU to respond to unforeseen circumstances. The 2021–2027 long-term budget, or the multiannual financial framework (MFF) of EUR 1.211 trillion, will seek to support the recovery while investing in the EU’s regions, farmers, companies, researchers, students, citizens in general as well as our neighbouring countries.