The European Commission presented a proposal for a significant budget increase, up to 2,000 billion euros on Wednesday for the period 2028–2034, writes DW. This amount represents an increase of 800 billion euros ($ 930 billion) compared to the current budget of 1,200 billion euros, in the context in which the Community block is trying to cope with challenges such as migration, digital regulation, external competition and Russia aggression. «It is a budget for a new era,» wrote the president of the European Commission, Ursula von der Leyen, on the Bluesky Microblogging Platform. «[Un buget] which corresponds to the ambitions of Europe, responds to the challenges facing Europe and strengthens our independence. ” The Commission described the proposal as «the most ambitious EU budget of all time: more strategic, more flexible and transparent.» The EU budget, officially known as the multiannual financial framework (CFM), establishes the political priorities of the Union for the following years and how the funds are allocated in different fields. In the preliminary proposal presented on Wednesday in the European Parliament by the European Budget Commissioner, Piotr Serafin, most of the funds – 865 billion euros – will go to a national and regional partnership fund. Another 451 billion euros will be reserved for European investments in clean technologies, digitization, biotechnology, defense, space and food security. About 300 billion euros will be directed to supporting farmers, who have been worried about possible subsidies. Up to 100 billion euros ($ 116 billion) will be allocated especially for Ukraine, over three years after Russia's large -scale invasion. «It is a long -term commitment for the reconstruction and recovery of Ukraine,» said Serafin. The EU budget is largely funded by the contributions of the Member States. Germany, as the largest economy of the block, usually contributes with almost a quarter of the funds. However, according to the project presented on Wednesday, the proposed growth could be partially funded by new sources of income, such as a fee applied to large companies with turnover of over 50 million euros annually or by a share of national taxes on tobacco. The draft budget will now be the basis of negotiations between the European Commission, the European Parliament and the Member States – negotiations that are announced long and tense.
For other news, analyzes, articles and information from real -time business follows the financial newspaper on WhatsApp Channels