The EU's next long-term budget, the Multiannual Financial Framework (MFF) covering 2028 to 2034, was billed as a historic overhaul. In practice, experts say it falls short.
With a headline envelope of roughly €1.8-2 trillion, the Commission's proposal is the biggest in the Union’s history. But after repayments on NextGenerationEU pandemic debt, the effective new spending power shrinks to around 1.15 percent of EU gross national income, barely above the current framework. The bloc is asked to take on defence, industrial competitiveness, climate transition, enlargement, and support for Ukraine.
