EU presidency proposes €1.622 trillion budget for 2028-2034

The proposal sets out how much the EU could spend from 2028 to 2034.

It is €141 billion less than the European Commission proposed and about €308 billion below the European Parliament’s request.

The proposed cuts fall on funding for EU policies.

Money set aside to repay debt from the Next Generation EU fund would stay unchanged at €149.3 billion.