European Commission proposes 2-trln-euro long-term budget

BRUSSELS, July 16 (Xinhua) -- The European Commission on Wednesday proposed a two-trillion-euro (2.33 trillion U.S. dollars) budget for 2028-2034 for the European Union (EU).

The budget proposal would raise EU spending to an average of 1.26 percent of the bloc's gross national income, up from around 1.1 percent during the current 2021-2027 cycle.