15 Jun 2026
Presidency presents MFF negotiating box
On 11 June 2026, the Cyprus Presidency of the Council of the EU published the comprehensive Negotiating Box for the Multiannual Financial Framework 2028–2034. The Presidency declares that the text is the result of five months of intensive work and continuous consultations between the Cyprus Presidency and the member states, aimed at establishing a balanced basis for discussion that reflects their different priorities and political sensitivities.
The proposal includes a moderate overall reduction of 2% (€32.8 billion) compared with the European Commission’s proposal. A budget of EUR 167.88 billion in current prices has been proposed for Horizon Europe, compared with the European Commission’s proposal of EUR 175 billion. In 2025 prices, the proposed budget amounts to EUR 148.579 billion, while the Commission had proposed EUR 154.882 billion.
According to the presidendy, the reduction iswould be applied across all headings, though not in a strictly horizontal manner, reflecting the distinct structure and constraints of each heading. In this context, Heading 1 is subject to the smallest reduction, as national allocations and repayment of NextGenerationEU debt are areas where further cuts are particularly difficult to make. The Presidency also says it sought to preserve the overall balance between the headings, as well as the reformed architecture of the new MFF.
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