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Ceturtdiena 19.07.2018 | Name days: Jautrīte, Kamila, Digna
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Finance Ministry plans to boost EU fund agreements 90%

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Baltic news, News from Latvia, BNN-NEWS.COM, BNN-NEWS.RUAs of May this year the volume of approved European Union (EU) fund projects and agreements can be assessed positively and it is expected by the end of 2011 the proportion of them against the EU funding will comprise about 90%.

The Cabinet of Ministers has approved the Finance Ministry’s letter on the EU funds acquired, the plans and the expected results for the Saeima Public Expenditure and Audit Committee, informs the Finance Ministry.

Overall, until May, 2.5 billion lats or about 79% of the total allocation of EU fund projects have been approved. Agreements with funding receivers have been concluded for 2.4 billion lats or 74% and one billion lats or about 30% of the total EU funds have been paid out.

As the managing authority of EU funds, the Finance Ministry emphasizes the year 2011 is planned to be one of the most active in EU funds acquisition in this planning period. Moreover, the state budget financing of 648 million lats for the EU funds is much more than in the previous years. Due to fiscal constraints, it is likely in the coming years the state budget expenditure for the EU fund project financing will have to be cut slightly. So, it is important the responsible sector ministries use the opportunities provided in this year’s budget.

In view of this, the Finance Ministry believes it is unacceptable that most ministries have not complied with their plans regarding payments to the fund receivers, acquiring only 60% on average of the intended payments.

By December 30, 2012 the Finance Ministry is determined to prepare a report for the Cabinet of Ministers with proposals on the EU fund implementation structure for the 2014 /20 planning period, as well as to optimize the EU funds acquisition system by January 1, 2014.

 


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  1. Lady says:

    The red tape prevents people from getting the funds.

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