EU budget for 2026 amounts to €192.8 billion in total commitments

Brussels [Belgium], November 16: The European Council and the European Parliament have agreed on the EU's annual budget for 2026. Next year's budget will focus on delivering Union priorities and dealing with ongoing challenges. It will boost competitiveness, strengthen Europe's defence readiness and preparedness, provide support for humanitarian assistance and address migratory pressures.
At the same time, the budget safeguards the flexibility to react swiftly and effectively to unforeseen needs and crises.
The 2026 budget amounts to €192.8 billion in total commitments and €190.1 billion in total payments. €715.7 million has been kept available this year under the expenditure ceilings of the current multiannual financial framework for 2021-2027, allowing the EU to react to unforeseeable needs.
"Today's agreement shows that Europe can deliver, even in challenging times. The 2026 EU budget will allow us to deliver on our common priorities - security, competitiveness and border control - all while ensuring that the EU can react swiftly and effectively to unforeseen needs and crises,'' said Nicolai Wammen, Minister for Finance of Denmark and chief Council negotiator for the 2026 EU budget.
This is the sixth annual budget under the EU's long-term budget, the multiannual financial framework (MFF) for 2021-2027. The 2026 budget is complemented by actions to support the COVID-19 recovery under NextGenerationEU, the EU's plan to recover from the COVID-19 pandemic.
The European Parliament and the Council now have 14 days to formally approve the agreement reached. The Council is expected to endorse it on 24 November. Adoption of the budget requires a qualified majority within the Council.
Source: Emirates News Agency