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Tuesday 21.08.2018 | Name days: Linda, Janīna

EC proposes 1.28 trillion-euro budget with lower agriculture payments

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RU

As the European Commission proposes a 1,28 trillion-euro budget for the European Union in the 2021-2017 period, spending cuts are aimed at farm subsidies and regional development aid.

U.S. media organisation Bloomberg wrote on Wednesday, May 2 that the European Commission proposed an about 5% reduction in EU farming expenditure as of 2021 to make room for higher spending in the field of security.

The EU executive also recommended a similar lowering of European regional-development support money and seeking to link it to member countries’ respect for the rule of law that seems to be aimed at Poland and Hungary.

President Jean-Claude Juncker commented: «The new budget is an opportunity to shape our future as a new, ambitious union of 27 bound together by solidarity. (..) We have put forward a pragmatic plan for how to do more with less.»


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