The European Parliament and the Council of the European Union have reached an agreement on the EU’s 2027 budget, which provides for €199.7 billion in commitments and more than €211 billion in payments. The document sets out funding for EU policies and programmes, including cohesion, migration, security and defence, IPN reports.
According to the Council of the EU, next year’s budget will provide the resources needed to implement agreed policies and programmes, as well as to address current crises and challenges, including those arising from the situation in Ukraine and the Middle East. It will also enable the European Union to respond to any unforeseen circumstances.
The European Commission welcomed the agreement, noting that the 2027 budget provides substantial support for Ukraine through both the Ukraine Facility and the loan intended to support Kyiv amid the challenges posed by the current geopolitical situation.
The European Parliament and the Council of the EU are expected to formally approve the agreement within two weeks.
