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.
EU Flag
© DELFI / Domantas Pipas

"(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
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.
Leave a comment
or for anonymous commenting click here
By posting, you agree to terms
Read comments Read comments

Israeli cloud services integrator chooses Vilnius for European base

TeraSky, a leading Israeli cloud solutions integrator, has just announced the opening of its European...

The popular French fashion brand „Gémo“ enters the Baltic States: first store in Lithuania – in 2019

The popular French fashion brand „Gémo“ entered the Baltic States - the first regional store was...

International investors discover Šiauliai

In recent years, Lithuania has seen a large influx of foreign investors. Whereas Vilnius and Kaunas...

Hungary may consider buying gas from Lithuania - president

Hungarian President Janos Ader said on Tuesday that his country might consider buying liquefied gas...

New global sales trends have not bypassed Lithuania: “Pigu.lt” has announced two-week sale festival

Traditionally, November is a very busy month for global trade sector as everybody looks forward to new...