EU member states have agreed the Council of the EU’s position on the bloc’s draft 2027 budget, setting spending plans at €191.88 billion in commitments and €202.07 billion in payments.
The agreement covers the seventh and final annual budget under the EU’s current seven-year spending framework, known as the multiannual financial framework (MFF) for 2021 to 2027.
The Council said in a statement on Wednesday that its approach for 2027 was “prudent” and based on “consistent and realistic” principles.
It declared that the budget should be set at a level that allows EU policies and programmes to be implemented, while keeping enough room under the MFF’s spending limits to deal with unforeseen events.
The Council also said the budget should maintain the EU’s capacity to respond to crises and challenges, naming the conflicts in Ukraine and the Middle East and migratory pressures.
“The Council’s position on the 2027 EU budget would ensure that we have the financial capacity to navigate ongoing complex geopolitical realities that demand swift and decisive action,” said Simon Harris, Ireland’s Tánaiste and Minister of Finance.
How the EU budget figures work
Commitments are legal promises to spend money on projects that can run over several years, while payments are the amounts actually paid out for commitments made in the current year and previous years, the Council explained.
The figures agreed by member states do not include financing for “special instruments” outside the MFF.
Member states’ ambassadors to the EU reached the agreement in Brussels.
The Council aims to formally adopt its position in September, after which Ireland — holding the rotating presidency of the Council — will negotiate the final 2027 budget with the European Parliament.
The deadline to reach an agreement on the annual EU budget is 16 November 2026 at midnight.
