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.
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.
The European Union Council will hold hearings on May 27 regarding the possible suspension of Hungary’s voting rights within the Union. The information was published on the Council’s official website.
Gulf states hosting major U.S. military bases were placed on high alert Sunday after American airstrikes destroyed Iran’s main nuclear sites, raising fears of regional retaliation and a broader conflict that could engulf key energy exporters and destabilise global security.
Senior Russian officials have condemned the United States’ recent military strikes on Iran, warning of a spiralling regional conflict and accusing U.S. President Donald Trump of igniting a "new war" that could backfire by strengthening Iran's leadership.
The United States has clarified that its recent military strikes on Iranian nuclear facilities were not intended to overthrow the Iranian government, but to neutralise what it described as urgent threats to national security, amid rising tensions and fears of broader regional conflict.
Iran's top security body, the SNSC, will decide on closing the Strait of Hormuz, a critical oil and gas chokepoint, after parliament's reported approval. A Revolutionary Guards commander stated the measure is "on the agenda," signaling escalating tensions.
Azerbaijan’s Foreign Ministry on Saturday voiced deep concern over the escalating tensions following the United States’ military strikes on Iranian nuclear facilities, calling on all sides to prioritize diplomacy over confrontation.
Iranian missiles struck multiple locations across Israel and neighbouring regions early Friday morning, including a Microsoft office complex, according to emergency responders and local media reports.
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.
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 2025 G7 Leaders’ Summit was held June 15–17 in Kananaskis, Alberta, under Canada’s presidency. Prime Minister Mark Carney framed the meeting around priorities of protecting communities, energy and climate security, the digital transition, and future partnerships.
The USS Nimitz is heading to the Middle East amid tensions between Israel and Iran. The U.S. aircraft carrier has a decades-long history in the region, from the 1979 hostage crisis to modern deployments, often serving as a key asset during periods of rising friction with Iran.
Germany’s federal government spent over 1.2 billion euros on software, licenses and IT services in 2024, more than 25% higher than the previous year.
Japan’s core inflation rose to a more than two-year high in May, exceeding the central bank’s 2% target for over three years and increasing pressure on the Bank of Japan (BOJ) to resume rate hikes.
Two Nigerian communities will take Shell to trial in the UK in 2027 after winning a court ruling over Niger Delta oil pollution.
The European Investment Bank (EIB) announced Friday it is raising its financing ceiling to a record €100 billion to accelerate investments in defence, energy security and Europe’s technological leadership.
Meta has teamed up with Oakley to release AI-powered smart glasses, expanding its push into wearable tech after the success of Ray-Ban Meta glasses. The social media company is expanding its partnership with Oakley and Ray-Ban-parent EssilorLuxottica.
Gulf states hosting major U.S. military bases were placed on high alert Sunday after American airstrikes destroyed Iran’s main nuclear sites, raising fears of regional retaliation and a broader conflict that could engulf key energy exporters and destabilise global security.
Senior Russian officials have condemned the United States’ recent military strikes on Iran, warning of a spiralling regional conflict and accusing U.S. President Donald Trump of igniting a "new war" that could backfire by strengthening Iran's leadership.
The United States has clarified that its recent military strikes on Iranian nuclear facilities were not intended to overthrow the Iranian government, but to neutralise what it described as urgent threats to national security, amid rising tensions and fears of broader regional conflict.
Iran's top security body, the SNSC, will decide on closing the Strait of Hormuz, a critical oil and gas chokepoint, after parliament's reported approval. A Revolutionary Guards commander stated the measure is "on the agenda," signaling escalating tensions.
Azerbaijan’s Foreign Ministry on Saturday voiced deep concern over the escalating tensions following the United States’ military strikes on Iranian nuclear facilities, calling on all sides to prioritize diplomacy over confrontation.
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