EU budget 2027: Council and Parliament reach agreement
The deal provides €199.7 billion in commitments and €211.5 billion in payments. Both institutions still need to approve it formally.
The Council of the European Union announced an agreement with the European Parliament on November 11 on the EU’s annual budget for 2027. It sets total commitments at €199.7 billion and payments at €211.5 billion.
The figures measure different things. Commitments are promises to fund activities that may be implemented over several years. Payments cover expenditure arising from commitments made in the current and previous financial years. They should not be added together as two separate funding packages.
The agreement requires formal approval by both the Council and Parliament within 14 days. The Council says it is expected to endorse the deal on November 23, with adoption requiring a qualified majority. Negotiators have reached a deal; the final institutional step remains pending.
2027 is the final year of the 2021–2027 multiannual financial framework. The annual procedure sets appropriations within that longer-term framework, with the Council and Parliament acting as the budgetary authority and the Commission assisting.
For businesses and other potential beneficiaries in Greece, the agreement is not itself a call for applications. Eligibility requirements and deadlines continue to be set by individual programmes and their calls.
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