Paper/Speech Details of Conference Program for the 29th NISPAcee Annual Conference Program Overview WG5: Public Finance and Public Financial Mngmt. (Physical) Author(s) Mark Bato Prime Minister's Office Budapest Hungary Title Closure of 2014-20 & Launch of 2021-27 Programmes of Cohesion Policy in the Area of Financial Instruments File Paper files are available only for conference participants, please login first. Presenter Mark Bato Abstract The transition between programming periods (based on the multiannual financial frameworks (MFF) of the EU budget) is always a key issue in the implementation of EU cohesion policy. Lack of proper management of this change can result in unjustified interruption of development programmes and projects. This possible interruption can cause serious macroeconomic consequences if the weight of these interventions is significant in the national economy (this is the case in several recipient Member States of EU cohesion policy). Although, the practical problem is generally the interruption of programmes because of the changes of these circumstances, the unchanged continuation of development programmes is not a real alternative, because experiences of implementation are to be taken into account and necessary adjustments shall be done. The proper management of cohesion policy has to find the right balance between these two contemporaneus requirements: stability and improvement. The paper collects the main factors determining national implementation of EU cohesion policy in the period of transition between programming periods (such as requirements of the closure of 2014-20 programmes and pre-conditions of launching the 2020+ programmes). In order to avoid periodical shortages in financing, both the Commission and national governments have to make preparatory steps for the provision of a smooth transiton from one MFF programming period to the following one. Our suggestions on how to react on this typical and significant challenge of EU cohesion policy implementation will be based on the comparison of regulatory backgrounds of the two periods. Furthermore, the essential requirements of closure of 2014-20 programmes will be reviewed and analysed from the point of view of smooth transition. Finally, the necessary preparatory steps of the new 2020+ programming period will be also analysed following the same, smooth-transition-principle. As a sum-up of the conclusions of the analyses listed above, the paper intends to suggest some general cornerstones for national governments in the area of national implementation of EU cohesion policy with the aim of a smooth transition that helps to correct former bottlenecks in implementation, but does not result in an unneccessary interruption of development programmes. The paper focuses on a specific area of cohesion policy interventions: on the area of financial instruments.
