European Parliament approves interim report on 2028-2034 multiannual financial framework

The European Parliament voted in Strasbourg to approve its interim report on the EU budget for 2028-2034, with 370 votes in favor, 201 against, and 84 abstentions. Lawmakers proposed a budget totaling approximately €1.78 trillion, which corresponds to 1.27% of the EU’s gross national income, excluding debt servicing for the NextGenerationEU fund. The parliament is calling for a 10% increase compared to the European Commission's initial proposal to address strategic priorities including defense, competitiveness, agriculture, and digital transition. Additionally, the report explicitly acknowledges the deprivation of property rights experienced by displaced Cypriots. The assembly rejected proposals to nationalize EU funding, advocating instead for the maintenance of a unified EU budget structure. This vote serves as a preparatory step for upcoming negotiations between the European Parliament and the European Council to finalize the multiannual financial framework. Key programs supported by the proposed budget include Horizon Europe, Erasmus+, EU4Health, LIFE, and the Connecting Europe Facility.