TBNPortugal
Costa calls for EU budget “sufficiently ambitious” and agreement by the end of the year
Publication: ECO
Author: Lusa
Source published: 21/10/2026, 10:32:14 UTC
Briefing created: 21/10/2026, 10:47:19 UTC
Based on a feed excerpt; full article content has not been acquired. Source evidence retrieved 21/10/2026, 10:41:24 UTC.
Briefings
António Costa defended a European Union's long-term budget as 'sufficiently ambitious' to enable the bloc to act effectively, emphasizing the need to reach an agreement by the end of 2026. Negotiations are entering a decisive phase for the 2028-2034 financial framework, with the EU aiming to balance traditional priorities like cohesion and agriculture against areas such as competitiveness and defense. The budget proposal targets approximately 1.83 billion euros in current prices, though this figure has been reduced by various member states' presidencies. Key constraints include the requirement for unanimity among member states and parliamentary consent, with divergences ongoing over funding sources and distribution.
Key points
- António Costa defended the EU's long-term budget as 'sufficiently ambitious' to enable the bloc to act effectively, emphasizing the need to reach an agreement by the end of 2026.
- The budget proposal targets approximately 1.83 billion euros in current prices, though this figure has been reduced by various member states' presidencies.
Context
The EU is negotiating a long-term budget for the 2028-2034 period, aiming to balance traditional priorities like cohesion and agriculture against areas such as competitiveness and defense. Negotiations are entering a decisive phase, with the EU aiming to reach an agreement by the end of 2026 despite upcoming national elections in France, Italy, Greece, and Spain.
Limitations
Evidence is limited to a single article from October 2026. Specific details on the final agreed amount, exact negotiation timelines beyond the end of 2026, and the precise distribution of funds among member states remain unconfirmed.
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