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EU proposes raising defense funding in 2-trillion-euro budget
BRUSSELS, BELGIUM, JUL 16 – The €2 trillion budget proposal includes a fivefold defense spending increase and up to €100 billion for Ukraine's reconstruction, marking a €600 billion rise over the current framework.
- On Wednesday, EU Budget Commissioner Piotr Serafin presented the European Commission’s draft proposal for a €2 trillion budget covering 2028 to 2034.
- The proposal follows the previous 2021-2027 budget of around €1.2 trillion and aims to address challenges like Russian aggression, digital regulation, and overseas competition.
- The draft allocates €451 billion to a competitiveness fund including clean tech and defense, €131 billion to defence and space—a fivefold increase—and sets aside €100 billion for Ukraine’s recovery.
- The budget was praised by the head of the European Commission as being more extensive, efficient, and focused, aligning with the continent's goals, while the Dutch Finance Minister Eelco Heinen criticized it for being excessively large.
- The budget must gain approval from all 27 EU member states and the European Parliament, initiating tense negotiations amid political and economic divisions over funding priorities.
135 Articles
135 Articles
EU proposes 'most ambitious' two trillion euros budget, Germany rejects plan
Ursula Von Der Leyen on Wednesday proposed the "most ambitious" €2 trillion ($2.3 trillion) 2028-2034 budget to counter overseas competition and Russian aggression, but Germany, the bloc's top economy, rejected it as unacceptable.
The German government announced that it would oppose the increase in the European budget from 2028 to 2034, set at 2,000 billion euros, proposed on Wednesday by the President of the Ursula von der Leyen Commission. ...
EU Budget Proposal Doubles Ukraine Aid And Boosts Military Spending
The European Commission is proposing a record 2-trillion-euro budget for 2028-2034, boosting funds for Ukraine, defense, and foreign policy. But tough negotiations lie ahead as richer EU states balk at higher spending.
EU budget 2028-2034: Much more money for research and defense, less for agricultural subsidies and more EU-wide taxes: the EU's budget proposal…
The EU budget from 2028 to 2034 unveiled by the EU Commission in Brussels. Von der Leyen: €131 billion for defence, 5 times the current funds. But the EU Parliament and the Committee of the Regions are attacking.
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