Written by Sidonia Mazur.
The proposal sets the 2027 European Union budget commitments at €199.9 billion and payments at €212 billion. The Commission underlined that the ‘next year’s budget will continue to provide crucial funding for established EU political priorities, including major support for Ukraine’.
Background – 2027 budget procedure
The European Parliament is one of the two arms of the European Union’s budgetary authority, the Council being the other. The two institutions, assisted by the European Commission, decide on the budget in the annual EU budget procedure, within the limits of the long-term EU budget – the multiannual financial framework (MFF). It is the European Commission’s task to propose a draft budget each year. The Commission takes into account the views of the two arms of the EU budgetary authority, the European Parliament and the Council of the EU. The Economic and Financial Affairs Council (ECOFIN) agreed on its guidelines for the 2027 EU budget on 17 February 2026. The European Parliament adopted its guidelines for the preparation of the 2027 budget, Section III on 28 April 2026. Parliament underlined that ‘the final year of the current MFF must focus on delivery for people, the economy and the planet and on providing investments for competitiveness’.
Next steps
On 9 July 2026, the Commission plans to formally adopt the 2027 draft budget and publish it in all official languages. More information on performance will be presented in the Annual Management and Performance Report scheduled for 16 June 2026.
On 16 July 2026, Parliament, Council and Commission will meet for a first budgetary trilogue.
By mid-July 2026, the Committee of the permanent representatives of the governments of the Member States to the European Union (Coreper) will approve Council’s draft position on the 2027 draft budget. The Council is expected to adopt its position on the 2027 draft budget in September 2026.
In October 2026, Parliament is due to adopt its position on the 2027 draft budget.
Possible meetings of the Conciliation Committee are likely to take place between 27 October and 16 November 2026.
Further reading
- Parliament’s guidelines for the 2027 budget: Parliament’s guidelines for the 2027 EU budget. Section III – European Commission
- More information on EU support to Ukraine: State of play: EU support to Ukraine
- For more on Parliament’s role in the EU annual budgetary procedure see: Annual EU budgetary procedure: An introduction to the steps in the European Parliament
- Parliament’s position on the new MFF: 2028-2034 EU budget: Parliament’s position
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