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2026-05-23

EU Multiannual Budget 2028–2034

A decision on the 2028–2034 multiannual budget will be made in 2027. The Commission proposes €1,984.9 billion for the period. This corresponds to 1.26% of the member states’ total GNI. The budget for the current period 2021–2027 amounts to €1,074.3 billion. The budget for the next seven-year period

⇑ Richer countries pay more

The EU budget is financed mainly through the membership fees paid by the EU countries. One purpose of the budget is to reduce the differences between richer and poorer regions within the EU and to finance parts of European agriculture.

Within the EU, the budget is called the Multiannual Financial Framework (MFF).

Richer countries pay higher membership fees than poorer ones, but Sweden receives a rebate on its contribution. The two largest expenditure items in the budget go to regions and to farmers. The size of the budget corresponds to 1.02 percent of the GDP of the EU countries.

⇑ Decision in 2027

The Commission has presented its first proposal for the next multiannual budget for 2028–2034. Discussions between the EU countries have begun, and they are expected to reach a budget agreement during 2027.

In total, the proposed new seven-year budget amounts to €1,984.9 billion, including the repayment of the loans (€168 billion) for the EU’s large recovery fund following the coronavirus pandemic. The size depends both on inflation, the repayment of the coronavirus fund, and on the fact that the member states have added new priorities such as security and competitiveness.

All EU countries have veto power when the Union’s multiannual budget is decided.

The size corresponds to 1.26 percent of gross national income, GNI. When the current multiannual budget was proposed in 2018, the European Commission wanted it to correspond to 1.11 percent of GDP, but at that time no repayment of the coronavirus fund was included, whereas it is included now.

⇑ Current budget for 2021-2027

At the unusually long EU summit, 17–21 July 2020, the heads of state and government of the member countries agreed on two proposals: partly the Union’s next budget for 2021–2027 and partly a new fund to help the member states most affected by the coronavirus crisis. Thirty percent of the money in both the budget and the recovery fund is to be used for climate measures.

Later in 2020, the Council and the European Parliament reached an agreement that established the different items in Table 1. These are the same amounts that the heads of state and government adopted in July 2020. During the spring of 2021, the parliaments of the EU countries approved the budget and the recovery fund.

In February 2024, the countries agreed on a supplementary budget of almost €65 billion, of which €50 billion was provided as loans and grants to help war-torn Ukraine.

⇑ The EU’s multiannual budget 2021-2027

The EU budget for 2021–2027 amounts to a total of €1,074.3 billion. The funds are distributed among the following budget items: