EU closes budget of €199.7 billion for 2027

The Council of the EU and the European Parliament have reached an agreement on the 2027 EU budget, totaling €199.7 billion in authorizations and €211.5 billion in payments. This budget is the last of the current Multiannual Financial Framework 2021-2027 and includes provisions for unforeseen circumstances. Key allocations include €75.8 billion for cohesion and resilience, €57.1 billion for natural resources and environment, and €22 billion for the single market and innovation. The budget also supports Ukraine with €650 million and includes funds for migration and border management. The agreement awaits formal approval from member states and the European Parliament, with votes scheduled for late November 2026.