EU budget needs to be increased to meet the EU's growing needs - Foreign Ministry

RIGA - In order to meet the growing needs of the European Union (EU) and maintain the level of ambition, the overall EU budget needs to be increased, the Foreign Ministry told LETA, commenting on the upcoming negotiations on the next multiannual EU budget.

The EU's multiannual budget is established for seven years. It sets the overall ceiling of the EU budget and the main lines and volumes of expenditure.

The Foreign Ministry explains that negotiations on the next EU multiannual budget after 2027 are currently in the early stages. The European Commission is expected to publish its proposals for the next EU multiannual budget in mid-2025. The Foreign Ministry is working with other ministries to inform the Commission and other member countries on Latvia's vision and priorities in the next multiannual EU budget.

According to the Foreign Ministry, in the new geopolitical reality we can no longer talk about a secure and competitive Europe without paying more attention to security and defense matters. Therefore the Foreign Ministry believes that the next EU multiannual budget period should continue the EU's social, economic and territorial convergence by providing funding for traditional policies such as cohesion and the Common Agricultural Policy, while increasing funding for security and defense.

Further EU financing for the Rail Baltica railroad project is also essential, says the Foreign Ministry.