Brussels: Europe and the Arab World

The European Council and Parliament have agreed on the EU's annual budget for 2026. Next year's budget will focus on achieving the Union's priorities and addressing ongoing challenges. It will enhance competitiveness, strengthen Europe's defense readiness, provide support for humanitarian aid, and address migration pressures.

At the same time, the budget ensures the necessary flexibility to respond quickly and effectively to unforeseen needs and crises.

According to a statement issued by the EU institutions in Brussels early Saturday morning,

The 2026 budget has total commitments of €192.8 billion and total disbursements of €190.1 billion. €715.7 million has been saved this year within the spending limits set out in the current Multiannual Financial Framework for 2021-2027, allowing the EU to respond to unforeseen needs. The Danish Presidency of the EU stated, "Today's agreement demonstrates Europe's ability to deliver on its commitments, even in challenging times. The EU Budget 2026 will enable us to achieve our shared priorities – security, competitiveness, and border control – while ensuring the EU can respond quickly and effectively to unforeseen needs and crises." This statement was made by Nicolai Wammen, Denmark's Minister of Finance and the Council's chief negotiator for the EU Budget 2026.

The European statement continued, "Commitments are legally binding promises to spend money on activities that extend over several financial years. Payments cover expenditures arising from commitments made to the EU Budget during the current and preceding financial years. This is the sixth annual budget within the EU's long-term budget, the Multiannual Financial Framework (MFF) for 2021-2027. The 2026 Budget is complemented by measures to support recovery from the COVID-19 pandemic under NextGenerationEU, the EU's COVID-19 recovery plan." Regarding the next steps, the European statement concluded, "The European Parliament and the Council now have 14 days to approve the agreement." The agreement has been formally approved. It is expected to be ratified by the council on November 24. Adoption of the budget requires a qualified majority within the council.