Key facts
- Sweden's Prime Minister Ulf Kristersson announced the country's rejection of the proposed EU budget.
- The Irish proposal for the 2028-2034 EU budget amounts to 1.62 trillion euros ($1.81 trillion).
- Sweden argues that the proposed budget is unaffordable and requires significant cuts.
- Germany's Chancellor Friedrich Merz indicated that an agreement on the budget is still distant.
Sweden's Prime Minister Ulf Kristersson stated on Thursday that the country will reject the Irish EU presidency's proposal for the European Commission's budget plan for the 2028-2034 period. Ireland, holding the EU's rotating presidency, proposed a budget of 1.62 trillion euros ($1.81 trillion), a 30% increase over the current seven-year package. Sweden, a net contributor to the EU budget, argues that the proposal is "wildly unaffordable" and requires "several hundred billion euros" more in cuts. Sweden's EU Affairs Minister Jessica Rosencrantz noted that the plan would lead to a 60% increase in Sweden's contribution, limiting the country's ability to prioritize domestic needs. German Chancellor Friedrich Merz echoed concerns, stating that an agreement is still a long way off and that "everyone must contribute to the necessary adjustments."