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Friday 23.02.2018 | Name days: Haralds, Almants
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Finance Minister: it is unfair to punish Baltic States with reduced funding

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Andris Vilks

“Improved investment quality and adequate funding forms the foundation of a successful cohesion policy. Therefore, it is unfair to punish three Baltic countries by offering a smaller funding on the next finance perspective,” – Finance Minister Andris Vilks notes.

“We have done serious work in overcoming the crisis and returning to development. Latvia needs funding to ensure the carrying out of structural reforms, which is the foundation of long-term development,” – the minister said during an informal Cohesion Policy Ministers meeting on Cyprus on November 6.

The meeting is held at the same time as discussions are being carried out in regard to the long-term EU budget. So it is important to demonstrate the added value of Cohesion policy. Latvia believes new and targeted elements will significantly improve Cohesion policy’s investment quality and effectiveness in the next period, as well as offer an opportunity to demonstrate the policy’s added value on the level of the European Union, Finance Ministry reports.

The minister also noted that Latvia has done much in relation to securing stable economic environment. Something many countries have yet to achieve.

The meeting also discussed the coordination of Cohesion policy with different EU policies. Latvia supports the development of the Single Strategic Framework, with the addition of the Cohesion fund, European Regional Development fund, European Social fund, European Agricultural fund and other important institutions.

Latvia calls to secure the coordination mechanism between different EC services that function in cooperation with EU funds in the form of discussions, planning and execution stages. This would simplify the discussion process with EC, secure a coordinated and harmonic approach to planning and execution.

The 2014-2020 planning period’s preparation schedule provides for beginning informal consultancies with the EC for Latvia this December. The EC will present its position in regard to Latvia’s Cohesion fund investment fields for 2014-202 on December 4. Official discussions will begin in spring 2013, but the approval of EU fund planning documents is expected to be carried out by the EC before the end of 2013.

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