Considering the current economic climate and organizational priorities, how likely is it that your organization will increase, decrease, or maintain its cybersecurity budget this year?

I agree with the other responses, it's essential and always evolving. We plan to boost our cyber spend to 5% of our total IT budget this year.

The importance of staying secure cannot be overstated. With todays complicated political situation, we need to be even more vigilant. Budgets for cybersecurity will never be cut. Even if we use AI and other modern tools, it just means that there are more opportunities to strengthen our defences.

It really depends on the context and experience of the individual organisation.
Security is (unfortunately) dropped into the risk management bucket of corporate cultures. It is why we negotiate percentages of cost, rather than stacking an ROI based approach.
Organisations that are in jurisdictions, like Europe, who have implemented law will definitely be forced to increase their spending whether they see risk or not.
Organisations who have recently suffered the consequences of breaches and incidents will reposition their risk matrices and ratchet investment up. 
But for the most part, the percentage of total spend on cybersecurity will decrease over the next 3 years due to the large investment in data, cloud, AI, innovation, digital transformation, and hard cybersecurity expense will lose share of the total unless the context (geography/events) drives a different local reaction.

cybersecurity remains a top priority, even in a tough economic climate. Cutting the budget isn’t really an option—it’s about optimizing investments. We focus on risk management, compliance, and making smart choices to maximize protection without overspending. So, while the budget might not skyrocket, maintaining or slightly increasing it is the most likely scenario.

Regardless of economic or geopolitical conditions, organizations cannot compromise on cybersecurity. With the rise in attacks and hackers leveraging AI, methods like MFA and human vs. bot detection are becoming harder to secure as AI bypasses some of these defenses. This makes the need to bolster cybersecurity measures more critical than ever.