In brief

• Negotiators from the Council of the EU and the European Parliament have agreed on the EU budget for 2027.
• Commitments amount to €199.7 billion and payments to €211.5 billion.
• The budget is to finance innovation, cohesion, nature protection and resilience to crises.

Agreement reached on the night from Tuesday to Wednesday

Representatives of the Council of the EU and the European Parliament reached an agreement on the 2027 budget in the night of 10 to 11 November (Európske inštitúcie sa dohodli na výške budúcoročného rozpočtu EÚ. Záväzky a platby presiahnu 410 miliárd eur – HNonline.sk) (EÚ sa dohodla na rekordnom rozpočte na rok 2027. Takmer 200 miliárd má posilniť mier, bezpečnosť a prosperitu – Aktuality.sk). It is the seventh and at the same time the last annual budget within the current multiannual financial framework for 2021–2027.

Budget figures

The budget provides for total commitments of €199.7 billion and payments of €211.5 billion. In addition, within the current expenditure ceilings, €710.1 million is available, which is meant to allow the Union to respond to unforeseen needs.

Goals and priorities

In the view of Irish Finance Minister Simon Harris, who led the negotiations on behalf of the Irish presidency, the budget must combine two requirements: give the Union funds to act effectively and respond to the needs of citizens without increasing the burden on national budgets or taxpayers. As he stated, this means concentrating funds on initiatives that bring concrete results and strengthen common resilience.

The budget is to finance innovation, regional cohesion and nature protection. It is also to increase the Union's resilience to conflicts and crises, including the war in Ukraine and tensions in the Middle East.

What's next

The agreement still requires formal approval by EU institutions before the budget can enter into force.