The Cyprus Presidency will present its revised negotiating package, also known as ‘Nego-Box’, for the next Multiannual Financial Framework (MFF) for the 2028-2034 period on Thursday afternoon in Brussels. The package is expected to include an overall reduction of around 2%, equivalent to approximately pound 32.8 billion in current prices. The proposal will be presented by Deputy Minister for European Affairs Marilena Raouna.
The objective is to put forward a mature and credible package capable of gaining the trust of Member States and generating the necessary momentum to reach an agreement by the end of 2026.
The proposal seeks to strike a balance between widely differing positions, ranging from the ‘frugal’ Member States calling for substantial cuts to the ‘Friends of Cohesion’ group advocating the preservation or even an increase of the EU budget.
Reductions are expected to be distributed across all budget headings, but neither horizontally nor equally. This approach aims to preserve the overall balance of the package while maintaining the proposed architecture of the future EU budget, sources told CNA.