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The Council and the European Parliament today reached agreement on the EU’s annual budget for 2024. Next year’s budget strongly focuses on the EU's main policy priorities. Total commitments amount to €189 385,4 million. Total payments amount to €142 630,3 million.
When the EU adopted its seven-year budget in 2020, few predicted the eruption of a full-scale war two years later at its borders. By the end of 2023, the EU will have provided military, economic and humanitarian support to Ukraine to the tune of EUR35.2 billion since Russia’s invasion. But with spiralling costs and a constrained budget, the European Commission has proposed a EUR100 billion top up to the budget as part of the mid-term review of the EU’s Multiannual Financial Framework (2021-2027).