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Tuesday 17.07.2018 | Name days: Aleksejs, Aleksis

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

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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.

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