The EU budget for 2021-2027 was 1047 billion euros when adopted and stands at 1.2 trillion euros as the budgetary perspective ends.

Omissions

• The MEP conflates price base differences with actual budget growth. The €1,074 billion (2018 prices) and €1.2 trillion (current prices) represent the same budget amount adjusted for inflation, not an increase in real budget value.
• The MFF 2021-2027 was adopted in December 2020 with these values already established; there was no subsequent revision increasing the budget from 1047 billion to 1.2 trillion.
• The slight difference between the MEP's '1047 billion' and the official €1,074 billion figure likely stems from rounding or transcription of the 2018 prices value.

Sources

• PrimaryEUR-Lex - EU Multiannual Financial Framework 2021-2027For the 2021-2027 period, the MFF sets a maximum level of spending of €1,074 billion (all amounts in 2018 prices)
• PrimaryEuropean Commission - EU budget todayThe current EU budget is over €2.0 trillion. It consists of the EU's 2021-2027 long-term budget of €1.2 trillion topped up by the up to €800 billion
• PrimaryEuropean Commission - 2021-2027 long-term EU budget & NextGenerationEUThe 2021-2027 long-term budget, or the multiannual financial framework (MFF), of EUR 1.211 trillion (in current prices), equivalent to EUR 1.074 billion in 2018 prices