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.
U.S. intelligence sources indicate that Russian President Vladimir Putin still intends to take control of all of Ukraine and reclaim parts of Europe t...
AnewZ has premiered The Oligarch’s Design, a long-form investigative documentary marking the launch of AnewZ Investigations, the channel’s new edi...
UN Secretary-General Antonio Guterres has issued a stark warning over the humanitarian situation in the Gaza Strip....
The United States says it is working to secure a renewed ceasefire between Thailand and Cambodia, expressing cautious optimism that an agreement could...
Uzbek President Shavkat Mirziyoyev’s official visit to Tokyo represents more than a strengthening of bilateral relations; it is a strategic step tha...
The European Union is facing mounting political pressure over its ability to keep Russian sovereign assets frozen, as internal divisions, leadership changes and war fatigue reshape decision-making across the bloc.
Germany has confirmed a 43 million tonne lithium carbonate equivalent resource in the Altmark region, fuelling expectations that Europe could reduce strategic dependence on China as electric vehicle demand and clean transport targets accelerate.
European Union leaders meeting with Western Balkan counterparts in Brussels this week are working to refocus the bloc’s agenda on enlargement, with discussions heavily featuring Ukraine support and regional security.
The European Union’s interest in investing in regional connectivity projects in the South Caucasus, such as the Trump Route for International Peace and Prosperity (TRIPP) is driven by a need for strategic credibility and a tangible foreign policy success, according to a regional expert.
Ukraine has welcomed the European Union’s decision to provide €90 billion in support over the next two years, calling it a vital lifeline even as the bloc failed to reach agreement on using frozen Russian assets to finance the aid.
European Union foreign policy chief Kaja Kallas has warned that attempts to reach a peace agreement in Ukraine are being undermined by Russia’s continued refusal to engage meaningfully in negotiations.
A rare pair of bright-green Nike “Grinch” sneakers worn and signed by the late NBA legend Kobe Bryant have gone on public display in Beverly Hills, ahead of an auction that could set a new record for sports memorabilia.
Chinese Foreign Minister Wang Yi has held a phone conversation with his Venezuelan counterpart Yvan Gil at the latter’s request.
Petroleum products are being transported by rail from Azerbaijan to Armenia for the first time in decades. The move is hailed as a tangible breakthrough in efforts to normalise relations between the long-time rivals.
Warner Bros Discovery’s board rejected Paramount Skydance’s $108.4 billion hostile bid on Wednesday (17 December), citing insufficient financing guarantees.
Ford Motor Company said on Monday it will take a $19.5 billion writedown and scrap several electric vehicle (EV) models, marking a major retreat from its battery-powered ambitions amid declining EV demand and changes under the Trump administration.
Iran has rolled out changes to how fuel is priced at the pump. The move is aimed at managing demand without triggering public anger.
U.S. stock markets closed lower at the end of the week, as investors continued to rotate out of technology shares, putting pressure on major indices.
The U.S. Federal Reserve’s Federal Open Market Committee (FOMC) cut its benchmark interest rate by 25 basis points to a range of 3.50% to 3.75% following its two-day policy meeting, according to an official statement issued on Wednesday, 10 December.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment