European Commission President Ursula von der Leyen gives a speech during a plenary session at the European Parliament, where a motion of censure against the European Commission is debated, in Strasbourg on July 7, 2025. Photo by Jean-Christophe Verhaegen / AFP
The European Commission presented a proposal for the next Multiannual Financial Framework (MFF) on Wednesday, setting out a 2 trillion euro ($2.2 trillion) budget for 2028–2034, with a focus on defense and economic competitiveness.
EU Budget Commissioner Piotr Serafin said 300 billion euros ($330 billion) would go to agriculture, 218 billion euros ($239 billion) to less developed regions, and 451 billion euros ($496 billion) to a European Competitiveness fund.
