BRUSSELS. The European Commission on Wednesday presented a proposal for the EU's long-term budget for 2028-2034 worth two trillion euros.
As part of the presentation of the draft multiannual financial framework, this was presented to the European Parliament's Budget Committee by European Commissioner for Budget Piotr Serafin, reports TASR.
The budget of two trillion was also confirmed by the head of this institution, Ursula von der Leyen, at the beginning of a press conference at the headquarters of the European Commission.
A modern and more flexible budget
Serafin clarified to MEPs that the long-term budget proposal"is a modern and more flexible budget that builds on past successes and responds to the challenges of today and tomorrow."
He recalled that the European Commission proposed only four budget envelopes, which is a change from the previous seven budget chapters, and this trend is intended to make the euro budget more flexible.
According to Serafino, every euro must be easily accessible and the funds must be spent on things that are important to Europeans.
"Another main principle is respect for the rule of law, meaning that without respecting the rule of law, it will not be possible to obtain any EU money," added Serafin.
They want a significant budget increase
The proposal of two trillion in practice means an increase in the euro budget of 700 billion euros compared to the current programming period, which began in 2021.
The seven-year budget includes all basic expenditures of the European Union, from subsidies to farmers, through cohesion funds to support less developed regions, but also the construction of transport infrastructure and aid to developing countries.
Serafin added that defense funding should increase fivefold, making security one of the EU's top priorities in the coming years.
In order for the budget to enter into force, it must be unanimously approved by the European Union member states and also approved by the European Parliament, so two years of intensive negotiations are expected.
