Economic and Financial Affairs Council (Budget), 10 November 2023

Main results

The Council and the European Parliament today reached agreement on the EU’s annual budget for 2024. 

Total commitments are set at €189 385,4 million. €360 million have been kept available under the expenditure ceilings of the current multiannual financial framework for 2021-2027, allowing the EU to react to unforeseeable needs.

Total payments amount to €142 630,3 million.

I’m glad we have come to an agreement on next year's budget. This will give us the means to focus on the EU's priority areas, while keeping enough financial leeway to respond to unforeseen circumstances. It also ensures a realistic approach, taking into account the current economic situation, the interests of taxpayers and the need to cater for new challenges that may arise in 2024. Esperanza Samblás, Spanish Secretary of State and chief Council negotiator for the 2024 EU budget

The Parliament and the Council now have 14 days to formally approve the agreement reached. The Council is expected to endorse it on 20 November.

Adoption of the budget requires a qualified majority within the Council, in agreement with the European Parliament (legal basis: article 314 of the Treaty on the Functioning of the European Union).

• EU budget for 2024: Council and Parliament reach agreement (press release, 11 November 2023)
• EU budget for 2024 (background information)
• EU budget (background information)
• Commission’s proposal for the annual EU budget 2024