Brussels (EFE).- The European Commission proposed a 2 trillion euro budget for the 2028–2034 period on Wednesday, slightly increasing its share of the EU’s gross national income (GNI) to 1.26%, up from 1.13% in the current framework.
Most of this increase will go toward repaying recovery fund debt, according to Budget Commissioner Piotr Serafin.
“This is a pragmatic proposal,” said Serafin during his presentation at the European Parliament. “It reflects the challenges ahead while ensuring sound public finances.”
European Commission President Ursula von der Leyen later confirmed the figures at a press conference, describing the proposed Multiannual Financial Framework (MFF) as a “strategic investment tool” for the bloc.
Although a full draft has yet to be released, early figures show that 865 billion euros will be managed through a consolidated fund combining regional, agricultural, migration, and border management programs.
Member states will need to submit national and regional plans to access these resources.
Regional, agricultural, and competitiveness funds
Under the proposal, cohesion and agricultural policies remain key pillars.
The Common Agricultural Policy (CAP) is set to receive 300 billion euros, while the Cohesion Fund, including the European Social Fund and Regional Development Fund, will also be included in the €865 billion umbrella.
The Maritime and Fisheries Fund will get 2 billion euros.
Of this budget, 14% will be earmarked for social objectives, and 218 billion euros is expected to support the EU’s poorest regions.
The second major chapter is a 410 billion euros Competitiveness Fund, which will encompass multiple sectors.
The research program Horizon Europe is set to double its allocation to nearly 200 billion euros.
Security, defense, and space programs will receive another 131 billion euros.
“This fund is about the EU’s future,” said von der Leyen. “From clean energy to digital leadership, we are uniting efforts under one streamlined budget.”
The fund also covers decarbonization, industrial transition, healthcare, biotechnology, agriculture, bioeconomy, digital innovation, and resilience.
External action and Ukraine support
Beyond internal policies, the Commission has proposed 200 billion euros for external action through the Global Europe program and 49 billion euros for Erasmus+ and other educational initiatives.
Support for Ukraine, one of the top political priorities for the EU, is expected to reach up to €100 billion during the seven years.
However, this amount would be allocated separately from the main budget.
“We remain steadfast in our commitment to Ukraine,” Serafin emphasized. “But this aid will be handled outside the core budget structure to maintain flexibility.”
The proposal now heads to the Council of the EU and the European Parliament, where intense negotiations are expected.
The current budget framework ends in 2027. EFE
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