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Wednesday 18.01.2017 | Name days: Antis, Antons
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FM: for every one euro paid to EU budget, Latvia receives four euros on average

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUNext year, Latvia will receive more from the European Union budget than it will pay. For every one euro paid to the EU budget, Latvia will receive four euros in return, says Finance Ministry’s spokesperson Aleksis Jarockis.

Latvia’s estimated amount to be paid to the EU 2017 is approximately EUR 250.6 million. As a comparison: Latvia paid EUR 244.8 million in 2015, and it is planned to pay 254.9 million in 2016.

Jarockis admits that it is not possible to plan the amount Latvia will receive from the EU budget in 2017. The amount depends on realization of support programmes. Nevertheless, it is expected that Latvia will still receive more in 2017 – for every one euro paid to the EU budget, Latvia will receive four euros in return. «Nevertheless, it is important to keep in mind that it is a long-term tendency and there could be deviations over the course of the years. It is possible that Latvia may receive an amount from the EU budget equivalent to what the country received in 2015,» – said the ministry’s representative.

The approved budget amount for 2017 EU budget is EUR 134.5 billion in payment appropriations and EUR 157.9 billion in commitment appropriations. The annual EU budget amount is determined by contributions provided by member states depending on their welfare level. To finance the European Union’s expenditures worth EUR 134.5 billion, Latvia’s contribution to the budget will be around EUR 250.6 million. Nevertheless, statistics from the past decade show that approved EU budgets tend to change eight times over the course of a single year. Amendments to the plan help either reduce or increase the EU budget and with that change the size of contributions from Latvia and other EU member states.

In 2015, Latvia as a member of the European Union received co-financing of EUR 981.6 million – 0.8% of the expenditures of the EU budget paid to member states. Compilation of data continues for 2016.

The biggest funding Latvia received in 2015 was EUR 663 million, which was provided as part of the budget sub-category ‘Economic, social and territorial cohesion’. Funding was provided from the European Regional Development Fund, European Social Fund and Cohesion Fund.

The second largest budget expenditures category in which Latvia received financing and for which the European Commission performed payments worth EUR 253.7 million is the budget expenditures category for sustained growth: natural resources. In this category, Latvia and other member states realize Common agriculture policy and receive co-financing from the European Agricultural Guarantee Fund, European Agricultural Fund for Rural Development and European Maritime and Fisheries Fund.

For the realization of science, research, transport, energy and small to medium business support projects, Latvia received co-financing worth EUR 47.9 million.

The smallest amount of funding was received by Latvia for projects involving the migration policy and internal security, with co-funding reaching EUR 7.5 million.

Ref: 102.109.109.7982


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