Contents
Article 5Global margin for payments#
1.Every year, starting in 2015, as part of the technical adjustment referred to in Article 6, the Commission shall adjust the payment ceiling for the years 2015-2020 upwards by an amount equivalent to the difference between the executed payments and the MFF payment ceiling of the year n-1.
2.The annual adjustments shall not exceed the following maximum amounts (in 2011 prices) for the years 2018-2020 as compared to the original payment ceiling of the relevant years:
2018 — EUR 7 billion
2019 — EUR 11 billion
2020 — EUR 13 billion.
3.Any upward adjustment shall be fully offset by a corresponding reduction of the payment ceiling for year n-1.
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