Welsh Government to increase 2026-27 departmental spending
The one-year budget will be published in October, ahead of the next Senedd election.
Mr Drakeford said: "I want to ensure we provide a stable and reliable outcome for our public services and all who rely on them.
"I also want to ensure the new Senedd we have worked so hard to create has the best possible platform from which to carry out its work, to make an early start on aligning budgets with its priorities and the development of a new Programme for Government."
An unallocated funding pool will also be created for use by the next Welsh Government.
The draft budget, including high-level allocations for each cabinet secretary, will be published on October 14.
A more detailed draft budget will follow on November 3, with the final version due on January 20, 2026.
A debate and vote on the budget are scheduled for January 27.
Mr Drakeford described the approach as 'responsible,' and said it would give the next government the ability to deliver on its election promises from the outset while providing stability for public services.
He said the Welsh Government's priorities remain unchanged: a healthier Wales, green jobs and growth, connecting communities, and opportunity for every family.
The 2026-27 budget will not include major new spending commitments.
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