The European Commission's proposed cuts to agricultural and regional development funding in the next budget period are not drastic, but it remains to be seen how they will affect Lithuania's public finances, Deputy Finance Minister Miglė Tuskienė said on Wednesday.
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"(The agricultural funding cut of) 5 percent wouldn't be drastic. In agriculture, direct payments should converge towards the average and in Lithuania we are talking more about the principle of fairness than about the amounts," Tuskienė told BNS.

"As to the Coherence Policy, I wouldn't call 7 percent a drastic reduction," she added.

According to the official, the Commission on Wednesday only presented its general proposals for the bloc's post-2020 financial framework and the plan's impact on Lithuania's public finances will be seen in around a month's time when Brussels unveils detailed proposals for each funding direction.

After the Commission has presented the financial blueprint, negotiations with member states are set to begin shortly.

BNS
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