European Council President Antonio Costa is urging EU leaders to approach the 2028-2034 budget negotiations with openness and a sense of collective responsibility, aiming for an agreement by year’s end.

Negotiations will tackle defense, Ukraine, enlargement, economic competitiveness, affordable energy, and the priority to finalize the seven-year budget by the end of 2026.

Costa’s tour of EU capitals, including a planned visit to Cyprus next Friday, seeks to gather views from heads of state and government ahead of the budget talks.

Portugal and Slovakia are highlighted as examples of how the budget could support industry and agriculture, with Slovakia identified as a key partner.

The framework must reflect changing priorities—defense, security, competitiveness—while continuing investments in agriculture, regional development, research, and green and digital transitions, and include new shared resources within reasonable national contributions.

Cyprus priorities in the negotiations include supporting farmers and less-developed regions, energy security, migration management, and recognizing Cyprus’s unique security concerns as a divided EU member state.

Upcoming national elections in France, Poland, Italy, and Spain are to be kept separate from budget negotiations to avoid distortions in the process.

The proposed framework should ensure effective use of cohesion policy and common agricultural policy funds while keeping member contributions within reasonable limits.

There is ongoing controversy over aligning diverse fiscal priorities across the EU, which could shape the budget’s final form and timing.

Costa remains optimistic about balancing interests and emphasizes that the budget represents a collectively chosen Europe, not just numbers.

Germany remains the largest contributor, with Ireland planning a compromise proposal ahead of a mid-October EU leaders’ meeting.