The EU plans to approve a record budget, with Ukraine set to receive €100B.

The European Commission intends to approve a historic EU budget for 2028-2034 totaling €1.717T. According to EC President Ursula von der Leyen, €100B of this amount will be allocated to support Ukraine. This will be the largest budget in the EU’s history. The final figure may still change before approval, but if approved, the EU budget will rise to 1.23% of the gross national income of member states, up from 1.1% in the current period (2021-2027). The main priorities of the new budget will be defense, innovation, and security, while spending on traditional areas such as agriculture and regional development will decrease.

It is expected that:

1. €946B will go toward the European social model
2. €522B for competitiveness, prosperity, and security
3. €190B for external policy and assistance to neighboring countries
4. €107B for EU administrative expenses

Support for Ukraine is planned within a separate extra-budgetary fund. The commission also intends to introduce three new taxes to gradually repay the shared debt accumulated during the COVID-19 pandemic.