European Commission Proposes Nearly €2 Trillion EU Budget 2028-2034

The European Commission has finalized its proposal for the EU's long-term budget for 2028 to 2034, totaling nearly €2 trillion, aimed at supporting key priorities like the Single Market, justice, and nuclear safety. A significant highlight is the doubling of funding for the Single Market and Customs Programme to €6.2 billion, intended to remove trade barriers and enhance consumer protection. The Justice Programme will receive around €800 million to improve judicial cooperation and system digitalization across the EU. Nuclear research and safety are prioritized with €9.8 billion allocated to the Euratom Research and Training Programme, including substantial funding for the ITER nuclear fusion project and a nearly €1 billion instrument for nuclear safety cooperation and decommissioning. The package also includes support for overseas territories and programs combating euro counterfeiting. Meanwhile, in Germany, the 2025 budget was finalized with record investments totaling €62.7 billion, emphasizing economic revival and defense, with the budget set for parliamentary approval later in September.