After a meeting of EU finance ministers in Brussels early Saturday, State Secretary Péter Benő Banai said an agreement on the 2025 EU budget was reached after "intensive discussions".
Banai, who represented the Hungarian presidency of the Council of the EU at the ECOFIN meeting, said the 2025 budget contained EUR 199.4bn of total commitments and EUR 155.2bn of total payments.
He added that the agreement secured financing for programmes that enhance the EU's competitiveness as well as financing for reconstruction after flooding in Central and Eastern Europe and Spain.
The budget follows the principle of "budgetary prudence" which means that there will be "flexibility" in 2025, Banai said.