European Union member states are currently reviewing a new proposal for the 2028-2034 Multiannual Financial Framework (MFF). The Cypriot Presidency’s proposal sustains previously suggested cuts to agricultural and cohesion policies, initially put forward by the European Commission. Notably, the new plan also includes reductions in funding allocated to the newly established competitiveness fund. Further cuts are proposed for the security and defense fund, as well as the external action fund. These proposed reductions are prompting discussion among the 27 member states as they assess the implications for key policy areas. The details of the proposal were reported by news agencies on Thursday. The overall budget framework aims to define the EU’s financial priorities for the next seven years.