EU publishes explainer on its long-term budget for 2028–2034
The European Union has published an explainer highlighting how its next long-term budget for 2028 to 2034 is structured and the next steps to adopt it.
The new proposal sets out how nearly €2 trillion will be invested across the EU and worldwide over the next seven years.
On 16 July 2025, the European Commission presented its proposal for the EU’s next long-term budget, also known as the multiannual financial framework (MFF) for 2028-2034. A second package of sectoral proposals followed on 3 September 2025.
The Commission’s proposal organises the proposed spending of €2 trillion (in current prices) into four headings. One of the headings is ‘Fostering global partnerships and development’.
This heading covers all of the EU’s actions beyond its borders, including the Global Europe instrument, pre-accession assistance for candidate countries and potential candidates, and the common foreign and security policy.
The Global Europe instrument brings together increased funding for development cooperation, international partnerships, neighbourhood policy, enlargement and humanitarian aid under a single, simpler framework.
The explainer explains budget structure, key programmes (Horizon Europe, Erasmus+, Connecting Europe Facility, etc.), how the budget will be financed and next steps to adopt the budget.
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