The European Commission has unveiled a draft budget for 2026, building on the mid-term revision of the 2021–2027 long-term financial framework. The revised plan responds to recent global challenges—including energy crisis, and rising geopolitical tensions—and aligns spending with the EU priorities.
The draft 2026 budget is set at €193.26 billion, complemented by an estimated €105.32 billion under NextGenerationEU, the instrument to support Europe’s economic recovery from the coronavirus pandemic.
The draft budget focuses on key areas such as support for Ukraine, boosting EU competitiveness, managing migration, enhancing security and defence, and advancing strategic investments. It also continues to fund the EU’s green and digital transitions.
In addition, the budget incorporates measures from the cohesion mid-term review, allowing member states to redirect cohesion funds toward emerging needs like defence, affordable housing, energy transition, water resilience, and competitiveness.
Among other policies, the 2026 annual budget will go towards:
single market, innovation and digital - €22,054.4 billion
cohesion, resilience and values - €71,726.1 billion
natural resources and environment - €56,971.9 billion
migration and border management - €5,010.0 billion
security and defence - €2,803.5 billion
neighbourhood and the world - €15,505.0 billion
The annual budget for 2026 will have to be formally adopted by the European Parliament and Council before the end of the year.
"The EU budget has been able to respond to unprecedented global volatility and has continued to finance our key priorities, both within and outside the Union. At the same time, the room for manoeuvre, as we enter the final two years of the current long-term EU budget is becoming more limited and most flexibilities have been exhausted. I see this also as an important lesson for our next financial framework, for which we will make proposals in July,"- said Piotr Serafin, Commissioner for Budget, Anti-Fraud and Public Administration.
Chinese Foreign Minister Wang Yi on Wednesday called on the European Union to strengthen trust and cooperation with China, saying the two sides should focus on mutual success rather than rivalry.
EU Council President Antonio Costa celebrated the 40th anniversary of Portugal's EU accession, hailing it as the catalyst for the nation's most significant period of social and economic development and a testament to European solidarity.
Kazakhstan and the European Union are bolstering their economic partnership, with a recent high-level meeting paving the way for expanded collaboration in trade, investment, and sustainable development.
The European Union and India reaffirmed their commitment to collaboration in third countries today, marking the start of a new phase in development cooperation.
Negotiations between China and the European Union regarding electric vehicle price commitments are in their final stages, although both sides acknowledge that further efforts are required to reach a resolution.
European Commission President Ursula von der Leyen has proposed using closer cooperation with Pacific rim countries as a foundation to redesign the World Trade Organization (WTO), citing rising trade tensions and global fragmentation.
China and Ecuador mark a key step in strengthening bilateral ties by agreeing to expand and deepen cooperation in trade, investment and economic development.
Start your day informed with AnewZ Morning Brief: here are the top news stories for 27th June, covering the latest developments you need to know.
Amazon founder Jeff Bezos and Lauren Sanchez’s multi-day wedding in Venice is making headlines—not just for its celebrity guest list and luxury, but also for the backlash it has sparked among local activists.
The man behind one of Japan’s most disturbing serial murder cases—dubbed the ‘Twitter killer’—has been executed, breaking a nearly three-year pause in the country’s use of capital punishment.
Iran launched 18 ballistic missiles late Sunday targeting the U.S. military’s Al-Udeid Air Base in Qatar, the largest American installation in the Middle East.
A high-speed tram derailment in central Gothenburg, Sweden, has left at least eight people injured late on Thursday (19 June), after the vehicle slammed into a snack bar on Avenyn Avenue.
Wizz Air has suspended all flights to and from Tel Aviv, Israel, and its European services to Amman, Jordan, effective immediately until 15 September due to escalating situation in the Middle East. Also, the air carrier temporarily suspended its flights between Astana, Kazakhstan, and Abu Dhabi.
China has unveiled a mosquito-sized bionic drone designed for covert military operations and battlefield reconnaissance, marking a major advance in micro-robotics and stealth technology as part of the country’s growing focus on next-generation warfare capabilities.
The U.S. Embassy in Qatar has advised American citizens to shelter in place amid rising tensions between Israel and Iran, as part of a broader global security alert issued by Washington.
Nike is stepping back from China-based production for its U.S. market to dodge tariff-related costs, aiming to shift its sourcing strategy by 2026.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
Shell has denied reports that it is in talks to acquire BP in a historic £60 billion deal, despite ongoing market speculation about a potential merger between the two oil giants.
Universal’s new theme park in Bedford, UK has secured a government support package worth around £500 million ($686 million) for rail and road upgrades, as part of a wider package to boost infrastructure ahead of the park’s planned 2031 opening.
Australia will not raise its defence spending targets despite pressure from U.S. President Donald Trump, choosing instead to follow its own military strategy, Defence Minister Richard Marles said on Thursday.
European Commission President Ursula von der Leyen has proposed using closer cooperation with Pacific rim countries as a foundation to redesign the World Trade Organization (WTO), citing rising trade tensions and global fragmentation.
China and Ecuador mark a key step in strengthening bilateral ties by agreeing to expand and deepen cooperation in trade, investment and economic development.
Start your day informed with AnewZ Morning Brief: here are the top news stories for 27th June, covering the latest developments you need to know.
Amazon founder Jeff Bezos and Lauren Sanchez’s multi-day wedding in Venice is making headlines—not just for its celebrity guest list and luxury, but also for the backlash it has sparked among local activists.
The man behind one of Japan’s most disturbing serial murder cases—dubbed the ‘Twitter killer’—has been executed, breaking a nearly three-year pause in the country’s use of capital punishment.
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