European Commission Proposes €2 Trillion Budget for 2028-2034 with New Focus on Competitiveness and Defence

Summary – The European Commission has unveiled a €2 trillion budget proposal for 2028-2034, highlighting economic competitiveness and defence priorities alongside reforms in traditional spending areas.,

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The European Commission has put forward a comprehensive budget proposal amounting to €2 trillion for the period 2028-2034. This ambitious plan marks a strategic shift by placing significant emphasis on enhancing economic competitiveness and strengthening defence capabilities across the European Union.

Key highlights of the proposal include:

• Increased investment in research and innovation to foster competitiveness in global markets.
• Enhanced funding for defence initiatives, aiming to boost the EU’s strategic autonomy and security.
• Reform in traditional spending areas such as agriculture, cohesion, and climate action to align these with emerging priorities.
• Improvement in infrastructure and digital transformation to support sustainable growth.

The budget is designed to address contemporary challenges and position the European Union as a resilient and forward-looking global actor. By reallocating resources towards innovation and defence, the Commission seeks to safeguard EU interests and promote sustainable economic development.

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