The long-term budget for 2021-2027, which is being adjusted, increases funding to €123 billion (up from the previous period) and aims to strengthen the EU’s strategic objectives, including strengthening the EU’s own defense capabilities.
The budget process involves complex negotiations between the European Parliament and the EU Council to balance the Union’s needs in the face of crises and the need to support Ukraine. The EU Council and the European Parliament agreed on a 2026 budget of €192.8 billion (commitments) and €190.1 billion (disbursements). The European Parliament also voted in favor of increasing the budget for the Eastern Neighborhood countries (including Moldova) for 2026 by 25 million euros.
The European Commission has already started discussing the next budget, proposing to increase military spending by 10 times – to a minimum of €131 billion. The total volume of the next seven-year budget could reach €2 trillion. The European Commission proposes to increase the total EU budget, bringing it to 1.26% of the Union’s gross national income.
