European Parliament and EU countries agree on €199.7 billion budget for 2027 — Der Spiegel

The European Parliament and EU member states in Brussels, Belgium, have agreed on the European Union’s budget for 2027, amounting to around €199.7 billion. The negotiations lasted until morning, and the agreement reached still has to be formally approved by EU countries and the European Parliament, Der Spiegel reports.

The final budget of the current seven-year plan

The 2027 budget will be the seventh and final one under the current EU multiannual financial framework for 2021–2027. The European Union’s total budget for this seven-year period amounts to around €1.1 trillion and is primarily funded by contributions from member states.

The agreed amount is slightly lower than the European Commission’s proposal, which envisaged a budget of €199.9 billion. According to the European Commission’s plan, priorities for 2027 should include EU competitiveness, security and defence, as well as support for Ukraine.

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Responding to unforeseen events

Representatives of EU countries said the agreement would make it possible to implement the agreed policy measures and programmes in 2027. According to them, the budget should also ensure the EU’s capacity to act amid prolonged crises and challenges, including those related to Ukraine and the Middle East, and will allow it to respond to unforeseen events.

For comparison, the EU budget for the current year amounts to around €190 billion. At the same time, negotiations are continuing in Brussels on the next multiannual financial framework for 2028–2034. A proposal worth €1.826 trillion has been submitted for consideration, but member states’ positions on it differ significantly.