Portugal

Costa expects to present new EU long-term budget proposal on 21 November

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Based on a feed excerpt; full article content has not been acquired. Source evidence retrieved 11/11/2026, 11:11:24 UTC.

Briefings

European Council President António Costa announced a new long-term budget proposal for the EU covering 2028-2034 on November 21, 2026. This proposal aims to balance concerns from 'frugal' member states regarding cuts with those from 'cohesion' states, specifically addressing funding for remote regions like the Azores and Madeira. The initiative was driven by the Irish presidency's 'negobox' proposal, which faced criticism for insufficient cuts, prompting Costa to seek a compromise to avoid a difficult 2027 agreement. The final budget will define spending limits and priorities for the next five-year period under the EU's financial framework.

Key points

• António Costa's EU budget proposal covers the period from 2028 to 2034 and was announced on November 21, 2026.
• The proposal addresses funding for remote regions such as the Azores and Madeira, which were previously criticized for lacking specific allocations.

Context

The EU's long-term budget proposal aims to balance concerns from 'frugal' member states regarding cuts with those from 'cohesion' states, specifically addressing funding for remote regions like the Azores and Madeira. The initiative was driven by the Irish presidency's 'negobox' proposal, which faced criticism for insufficient cuts, prompting Costa to seek a compromise to avoid a difficult 2027 agreement.

Limitations

The evidence covers only the announcement of the budget proposal on November 21, 2026, and does not include details on the final agreement reached, specific financial figures, or the full scope of the 2028-2034 period.

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