Commission to propose €1.279T EU budget

The total for the so-called Multiannual Financial Framework translates into 1.11 percent of the EU27’s gross national income.

The European Commission is Wednesday set to propose a seven-year EU budget of €1.279 trillion in commitments in current prices taking into account inflation, according to an official summary of the budget numbers obtained by POLITICO.

The total for the so-called Multiannual Financial Framework, which will run from 2021 to 2027, translates into 1.11 percent of the EU27’s gross national income (GNI).

The budget total translates into €1.135 trillion in constant prices, according to an EU source.