EU reaches agreement on 2027 budget after marathon negotiations

The European Parliament and the Council of the EU have reached an agreement on the 2027 European Union budget following more than 24 hours of intense negotiations. The discussions addressed significant disagreements, particularly regarding the Council's initial calls for spending cuts versus the Parliament's push for increased funding in research, development, and social policies. Cypriot MEP Michalis Hatzipantelas played a pivotal role in the mediation process as the EPP rapporteur, earning recognition from EU Budget Commissioner Piotr Serafin for his leadership in bridging these gaps.

The final agreement sets the 2027 EU budget at €199.71 billion in commitment appropriations and €211.5 billion in payment appropriations, which include obligations from previous years. A substantial portion of the funding, €75.76 billion, is allocated to cohesion and resilience, while over €57 billion is directed toward agriculture and social cohesion. Additional resources were secured for cybersecurity, the physical security of EU delegations globally, and the development of new technologies, including artificial intelligence.

The final approval of this budget is expected to take place between November 23 and 24. Following this, focus will shift toward the broader negotiations for the upcoming 2028–2034 multi-year financial framework.