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EU Pushes for Budget Deal to Prevent Future Funding Disruptions
(MENAFN) The European Union needs to reach an agreement on its next long-term budget before the end of this year to ensure funding continues without interruption from 2028, European Council President Antonio Costa said Wednesday.
Speaking in Vilnius following talks with Lithuanian President Gitanas Nauseda, Costa described negotiations over the bloc’s 2028-2034 financial framework as a major challenge for the coming months.
“To ensure that there is no interruption in the European Union funding for farmers, our businesses, our students, and other recipients in 2028, we need to reach an agreement by the end of this year,” he said.
Costa said the future budget should prioritize economic competitiveness, industrial transformation, defense, security and strategic resilience, while maintaining support for cohesion programs and the Common Agricultural Policy.
He stressed that accommodating these emerging priorities alongside the EU’s traditional areas of spending would require substantial changes to the structure of the budget. Costa also highlighted the importance of creating additional sources of EU revenue to secure agreement among member states.
His visit to Lithuania forms part of a four-week tour of EU capitals aimed at consulting national governments ahead of upcoming European Council meetings and determining their readiness to compromise over the financial plan.
Costa and Nauseda also discussed the war in Ukraine, potential EU enlargement, security challenges along Europe’s eastern border and Lithuania’s preparations to take over the rotating presidency of the Council of the EU in January 2027.
Speaking in Vilnius following talks with Lithuanian President Gitanas Nauseda, Costa described negotiations over the bloc’s 2028-2034 financial framework as a major challenge for the coming months.
“To ensure that there is no interruption in the European Union funding for farmers, our businesses, our students, and other recipients in 2028, we need to reach an agreement by the end of this year,” he said.
Costa said the future budget should prioritize economic competitiveness, industrial transformation, defense, security and strategic resilience, while maintaining support for cohesion programs and the Common Agricultural Policy.
He stressed that accommodating these emerging priorities alongside the EU’s traditional areas of spending would require substantial changes to the structure of the budget. Costa also highlighted the importance of creating additional sources of EU revenue to secure agreement among member states.
His visit to Lithuania forms part of a four-week tour of EU capitals aimed at consulting national governments ahead of upcoming European Council meetings and determining their readiness to compromise over the financial plan.
Costa and Nauseda also discussed the war in Ukraine, potential EU enlargement, security challenges along Europe’s eastern border and Lithuania’s preparations to take over the rotating presidency of the Council of the EU in January 2027.
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