Latviski English По-русски
Ceturtdiena 22.03.2018 | Name days: Tamāra, Dziedra

Latvia gets half a billion euro more from EU budget than pays in

(No Ratings Yet)

Over the last year, Latvia has received half a billion euro more from various European Union (EU) budgetary payments than it has paid in the block‘s budget.

The European Commission (EC) financial report on the year 2009 indicates that Latvia’s payments to the EU budget last year accounted for 197.2 million euro (138 million lats), however, the country received from the EU budget by 501.5 million euro (351.05 million lats) more, which comprises 2.49% from the national gross domestic product (GDP).

Lithuania has received the highest surplus payment from the EU budget, compared to GDP, at 5.61% extent of the GDP. The following two positions are taken by Estonia, with 4.27% from GDP, and Hungary – with 3.10% from GDP. While Latvia ranks fourth, and Poland occupies the fifth place with 2.11% from GDP, reports the agency LETA.

On the basis of the total received sum, Poland has received the highest EU budget overpay last year – at the extent of 6.34 billion euro. Greece ranks second with 3.12 billion euro, and Hungary is in the third place with 2.72 billion euro. Whereas Lithuania has received from the EU budget by 1.49 billion euro more than it had paid, but Estonia – by 573 million euro.

On the other hand, Germany has paid in the EU budget 6.4 billion euro more than it has received back. France ranks second with 5.8 billion euro overpay in the EU budget, while Italy’s surplus payment last year was 5.06 billion euro.

Comparing with GDP, Belgium has the largest overpayment in the EU budget, with from GDP. Moreover, Denmark has the second highest surplus payment in the EU budget – 0.42% from GDP; followed by Luxembourg with 0.39% from GDP.

The EU allotted financing of sustainable development program in Latvia last year accounted for 485.9 million euro (340.1 million lats), while 469.7 million euro (328.8 million lats) were received from the Structural and Cohesion funds to facilitate growth and employment in Latvia. Furthermore, the EU has directed 206.2 million euro (144.3 million lats) to the preservation and management of Latvia’s natural resources, while 10.2 million euro (7.1 million lats) were channelled to the endorsement of citizenship, freedom and security, but eight million euro (5.6 million lats) were spent on the administrative expenses in Latvia.

The 2009 financial report shows that 97% of the appropriations were used, which is similar to the percentage in 2008 (98%). The total expenditure exceeded 112 billion euro. The bulk of this sum was spent on measures to boost the economic growth, employment, research and development, as well as, agriculture.

In addition, one-third of the annual EU budget in 2009 was allotted to the promotion of the economic development in Latvia.

Leave a reply

Finance sector’s development council supports prohibition of shell companies

On Wednesday, 21 March, Latvian Prime Minister Māris Kučinskis’ managed Finance Sector’s Development Council supported initiative on prohibiting shell companies, as confirmed by the prime minister.

Level of producer prices in Latvia’s industry is up 3.4%

Compared to January, level of producer prices in the Latvian industry rose by 0.5 % in February 2018. Prices of products sold on the domestic market grew by 0.7 %, but prices of exported products went up by 0.3 %.

Minister: Latvia is far behind its neighbours in terms of digitization and e-skills

In terms of digitization and e-skills, Latvia is far behind its neighbouring countries and the rest of Europe, said Latvian Economy Minister Arvils Ašeradens in an interview to Latvijas Radio.

OECD: Latvian employees work longest hours in Baltics

In a comparison of Baltic countries per average annual hours worked, the Organisation for Economic Cooperation and Development has found earlier this year that the average Latvian worker spends 1,910 hours at work, followed by the Lithuanian employee with 1,885 hours and the average Estonian worker with 1,855 hours.

12th Saeima failed to complete half of its pre-election promises in field of justice

In 2014, Delna – society for openness and Providus think tank received support from all parties represented in the 12th Saeima in regards to an action plan to help strengthen the rule of law in the country.

Russia carries out military drills in Gulf of Finland

Russian Defence Ministry has stated that in the Baltic Sea Gulf of Finland, which has Finland, Russia and Estonia in its coastline, the Russian military has performed drills for its tactical special operations units.

Prime minister doubts Anti-Money Laundering Service head’s competence

«The work performed by the service requires drastic changes. Whether or not it can be done by its current head [Viesturs Burkāns], I am not sure,» said Latvian Prime Minister Māris Kučinskis in an interview to LNT, commenting on the work performed by Latvian Anti-Money Laundering Service.

Vilnius chosen for office of game developer Lockwood Publishing from UK

UK's mobile game developer Lockwood Publishing has unveiled plans to open its first overseas office in Vilnius, pointing to the industry's talent in Lithuania and the wider region.

Association: municipalities should organize their work on their own

On 6 March, Latvian Association of Local and Regional Governments reviewed the letter sent to Riga City Council by Environment Protection and Regional Development Ministry, in which the institution ordered the municipality to review their internal order and lift restrictions on the length of debates and the number of questions deputies are allowed to ask.

Canada moves to increase gun control

Canada's federal federal government has proposed new gun control measures, but they could reduce support to the ruling Liberal Party in rural areas, where guns are widely owned and used.

Minister: EU should work on rules to make sure social networks cannot be manipulated

«European Union needs to react to the Facebook data scandal and develop strict regulations to make sure social networks cannot be used to manipulate people. Appropriate regulations are needed in the matter regarding political campaigns performed on social networks, which is gradually becoming a common occurrence nowadays,» says Latvian Foreign Affairs Minister Edgars Rinkēvičs.

Profits of Latvian State Roads increased by 8.6% last year

Turnover of Latvian State Roads reached EUR 14.529 million last year, which is 10.3% more when compared to 2016. The company’s profits increased by 8.6% - to EUR 59,485, according to the published interim financial report.

Slovak President casts doubt over impartiality of proposed government

In a continuation of the political crisis in Slovakia, Slovak President Andrej Kiska has not accepted a the newly proposed government deeming it possibly unable to supervise an impartial investigation of the two murders that have shaken the Eastern European nation.

France's ex-leader Sarkozy in custody over links with Libya

French ex-President Nicolas Sarkozy has been taken in custody on March 20 and was held in custody on Tuesday and interrogated amid an investigation into whether late Libyan leader Muammar Gaddafi added funds to his 2007 election campaign.

KVV Liepājas metalurgs’ steelworks bought out by Austrian Smart Stahl

The auction for the sale of the insolvent KVV Liepājas metalurgs rolling mill equipment concluded with the victory of Austrian Smart Stahl GmbH, as confirmed by insolvency administrator Guntars Koris.

Entomologist: at least 5% of ticks in Latvia are infected with encephalitis

There have been cases of tick activity during the winter period in Latvia this year. As air temperature increases, ticks become active and start popping up. This means residents should seriously consider vaccination to avoid getting encephalitis from tick bites, entomologists say.

Rail Baltica station’s construction at Riga airport will cost EUR 4.5 million

Creation of a separate railway station and related infrastructure at Riga International Airport as part of Rail Baltica project will cost EUR 4.5 million, says the project’s manager in Latvia and board member of European Railway Lines company Andris Linužs.

Norwegian minister steps down to keep minority government in power

In a move to avoid the collapse of the Norwegian minority government, its Justice Minister Sylvi Listhaug resigned amid a political storm she had caused by blaming an opposition party of not being harsh enough toward terrorism suspects.

Political party calls for immediate action to resolve «over-salted Riga» problem

Member of For Latvia’s Development political party’s Riga City Council faction Ansis Ansbergs urges the administration to find a quick solution to the excessive use of salt during the winter season because it has a negative impact on both human and animal health, as well as the state of buildings, cars and plant life in the capital.

MEP: fair competition should be secured for all European farmers

Sixteen members of the European Parliament from Latvia, Lithuania, Estonia and Poland submitted a joint proposal on Monday, 19 March, for a resolution regarding the future of the Common Agricultural Policy with a request to equalize the level of direct payments across all of Europe starting from 2021.

Estonia prison sentence upheld to Syrian man for causing burns to wife

In the Estonian criminal case, where a Syrian man has been convicted to 10 years in prison over causing corporal damage to his wife by setting her on fire, Estonian Supreme Court has rejected his appeal.

Olainfarm’s sales volume increased by 16% over the course of the year

Provisional consolidated data from Olainfarm for February 2018 shows that product sales volumes have reached EUR 10.69 million, which is 33% more when compared with the same period of 2017.

Minister: it is not impossible for banks to reduce number of risky clients to 5%

It is not impossible for Latvian banks to reduce the number of risky clients to 5%, says Finance Minister Dana Reizniece-Ozola.

Syrian Afrin left by 220 000 civilians, Turkish-supported rebels loot town

After seizing the northern Syrian town of Afrin from Kurdish militia, Syrian rebels supported by Turkey have been looting properties, journalists have reported. The town has been left by estimated 220 000 civilians.

Ministry orders Riga City Council to lift restrictions on questions

Latvia’s Environment Protection and Regional Development Ministry has asked Riga City Council to act and fix violations of democratic principles in the newly approved rules for deputies.

Newest comments