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EU Proposes €2 Trillion Budget, Boosts Ukraine Aid

7/21/2025

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Summary

Story summary

The European Commission has proposed a 2-trillion-euro budget for 2028-2034, significantly boosting funds for Ukraine and foreign policy.
Defense spending is set to increase fivefold, reaching 131 billion euros.
All 27 EU member states must approve the budget, with negotiations anticipated until late 2027.
A 100-billion-euro fund for Ukraine's reconstruction is included, but rule of law conditions may hinder consensus, particularly with Hungary.

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Story summary

The European Commission has proposed a 2-trillion-euro budget for 2028-2034, significantly boosting funds for Ukraine and foreign policy.
Defense spending is set to increase fivefold, reaching 131 billion euros.
All 27 EU member states must approve the budget, with negotiations anticipated until late 2027.
A 100-billion-euro fund for Ukraine's reconstruction is included, but rule of law conditions may hinder consensus, particularly with Hungary.