The EU Commission has presented its budget estimates for 2028 to 2034. The Multiannual Financial Framework (MFF) is estimated up to €1.717 trillion for 2028 to 2034.
Some of the budget’s main priorities include the National and Regional Partnership Plans with €865 billion, competitiveness and innovation with up €400 billion, cohesion and agriculture with up to €300 billion with a minimum of €218 for undeveloped regions. The Solidarity Fund which will be used in disaster scenarios will also increase and €2 billion has also been allocated for fisheries. Funding for Erasmus+ has also increased.
EU member states can also take up to €150 billion in loans to invest in defence and also energy infrastructure in a scheme called Catalyst Europe.
Up to €131 billion has also been allocated for defence and space.
The EU Commission stated that EU budget financing is conditional on rule of law and the upholding of human rights. The EU Commission added that there will be clear incentives and conditions about these matters.
You can view the press conference about the budget here.
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