European Commission proposes €200 billion budget for the EU in 2027
The European Commission today presented a draft European Union budget for 2027 of €200 billion, focused on competitiveness, defense, affordable housing, water resilience, and the energy transition.
The executive states that the €200 billion in commitments take into account the mid-term review of the current cohesion policy (2021-2027) and 'a series of critical developments in recent years, including a global pandemic, an energy crisis and rising inflation, the return of war to the European continent, as well as growing geopolitical tensions.'
Brussels also highlights the recent conflict in the Middle East, which caused energy prices to soar.
In a statement, the Commission notes that the draft budget for 2027 includes increased funding for flagship programs—such as Erasmus+, the Connecting Europe Facility, and the Single Market Programme—while continuing to support agriculture.
The largest portion of the proposal (€75.761 billion) is allocated to the heading Cohesion, Resilience and Values, and the smallest (€1.15 billion) to the loan support for Ukraine.
The annual budget for 2027, the last of the current Multiannual Financial Framework, must be formally adopted by the European Parliament and the Council before the end of the year.
