Vilnius: The EU must agree on its next long-term budget by the end of this year to prevent funding disruptions in 2028, European Council President Antonio Costa said Wednesday. Speaking in Vilnius after meeting Lithuanian President Gitanas Nauseda, Costa described negotiations on the bloc's 2028-2034 budget as a 'decisive challenge' for this autumn.

According to Anadolu Agency, Costa emphasized the importance of reaching an agreement by the end of the year to ensure continuous funding for various EU sectors, including agriculture, business, and education. He stressed that the budget should prioritize competitiveness, industrial transformation, defense, security, and strategic resilience, while still supporting cohesion policy and the Common Agricultural Policy.

Costa highlighted the need for a significantly different budget structure to balance traditional priorities with emerging challenges. He pointed out that new EU revenue streams would be crucial for achieving an overall agreement. His visit to Lithuania marked the second day of a four-week tour of EU capitals, aimed at consulting national leaders ahead of European Council meetings and assessing their willingness to compromise on the budget.

The discussions between Costa and Nauseda also covered topics such as Ukraine, EU enlargement, threats on Europe's eastern flank, and Lithuania's preparations for the rotating presidency of the Council of the EU in January 2027. Costa commended Lithuania's military support for Kyiv and assured that the EU would continue to increase pressure on Moscow until Russia engaged in negotiations 'in good faith.' He further stated that the accession processes of Ukraine, Moldova, and the Western Balkans represent 'the best investment' Europe could make in securing the continent's future peace, security, and stability.