European Commission's multiannual budget plan emphasizes security as a key focus area, according to Member of European Parliament (MEP) Ijabs
The European Commission has proposed a new multiannual budget for the period 2028-2034, totalling nearly €2 trillion. This budget, if approved, will bring significant changes to various sectors across the EU, including Latvia.
Security and Defense
The proposal emphasizes long-term investments to enhance Europe's security and strategic autonomy. This implies increased funding for defense and security capabilities across member states, including Latvia, to address current geopolitical challenges and promote an independent, secure society.
Competitiveness
The budget aims to boost EU competitiveness through investments in innovation, digitalization, green technologies, and economic resilience. This will support Latvia’s efforts to modernize its economy and enhance productivity.
Farmers’ Subsidies
Traditional beneficiaries like farmers will continue to receive support, maintaining or possibly enhancing agricultural subsidies to ensure rural development and food security in Latvia. However, there is a point of contention regarding the inequality in farm subsidies between Member States.
Cohesion Policy
While the overall budget grows moderately in real terms, cohesion policy remains a priority to reduce disparities within member states. Latvia is expected to benefit from sustained or increased funds aimed at regional development, infrastructure, and social cohesion.
Science and Innovation
The budget includes increased investments in science and innovation to foster research, development, and technological advancements. This will support Latvia’s potential to modernize its scientific infrastructure and participate in EU-wide innovation projects.
Additional Latvia-specific Funding
A recent announcement highlighted a €9.2 million EU-funded support scheme launching in Latvia for Energy Communities, signaling targeted investments in local energy and sustainability initiatives consistent with broader EU climate goals.
Implications for Latvia
In summary, the proposed EU budget for 2028-2034 plans moderately increased financial allocations across key areas affecting Latvia, focusing on security, economic competitiveness, sustainable agriculture, cohesion policy, and innovation, with specific initiatives supporting Latvian energy communities. However, it's important to note that the draft budget is still subject to discussion and amendment by the European Parliament and agreement with member states.
[1] European Commission. (n.d.). Proposed budget for 2028-2034. Retrieved from https://ec.europa.eu/info/publications/proposed-budget-2028-2034_en [2] European Commission. (n.d.). European budget 2028-2034: Key priorities. Retrieved from https://ec.europa.eu/info/publications/european-budget-2028-2034-key-priorities_en [3] European Commission. (n.d.). Cohesion policy. Retrieved from https://ec.europa.eu/info/policies/cohesion-policy_en [4] European Commission. (n.d.). Agriculture and rural development. Retrieved from https://ec.europa.eu/info/policies/agriculture-and-rural-development_en [5] European Commission. (n.d.). Energy communities. Retrieved from https://ec.europa.eu/info/policies/energy-communities_en
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