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Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council of 18 July 2018 on the financial rules applicable to the general budget of the Union, amending Regulations (EU) No 1296/2013, (EU) No 1301/2013, (EU) No 1303/2013, (EU) No 1304/2013, (EU) No 1309/2013, (EU) No 1316/2013, (EU) No 223/2014, (EU) No 283/2014, and Decision No 541/2014/EU and repealing Regulation (EU, Euratom) No 966/2012
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1.Appropriations shall be used in accordance with the principle of sound financial management, and thus be implemented respecting the following principles:
(a)the principle of economy which requires that the resources used by the Union institution concerned in the pursuit of its activities shall be made available in due time, in appropriate quantity and quality, and at the best price;
(b)the principle of efficiency which concerns the best relationship between the resources employed, the activities undertaken and the achievement of objectives;
(c)the principle of effectiveness which concerns the extent to which the objectives pursued are achieved through the activities undertaken.
2.In line with the principle of sound financial management, the use of appropriations shall focus on performance and for that purpose:
(a)objectives for programmes and activities shall be established ex ante;
(b)progress in the achievement of objectives shall be monitored with performance indicators;
(c)progress in, and problems with, the achievement of objectives shall be reported to the European Parliament and to the Council in accordance with point (h) of the first subparagraph of Article 41(3) and with point (e) of Article 247(1).
3.Specific, measurable, attainable, relevant and time-bound objectives as referred to in paragraphs 1 and 2 and relevant, accepted, credible, easy and robust indicators shall be defined where relevant.
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