RIGA - Taking into account the possible changes in the European Union (EU) multiannual budget for 2028-2034, Latvia must be able to compete with other Member States in its absorption, Foreign Minister Baiba Braze (New Unity) stressed at a conference on the EU multiannual budget held by the Providus think tank.
She pointed out that Latvia had already started negotiations on the next multiannual budget in good time, so the country had established its position on a number of issues.
Latvia currently has four priority areas - security and defense, cohesion and common agricultural policy, and infrastructure connectivity.
Braze stresses that Russia's policies are and will remain a threat to Europe's security, and that the EU must provide sufficient funding to counter this long-term threat.
It is in the Baltic states, Finland and Poland that the war in Ukraine has had an impact on the economy, Braze stressed, adding that these countries have higher defense spending, an impact on inflation and additional pressure on infrastructure, such as rebuilding border infrastructure.
The minister believes that there are positive elements in the multiannual budget, such as the fact that the European Commission is proposing a larger overall budget, which opens the way for new priorities.
Latvia also welcomes the inclusion of strengthening the military industry, mobility, civil protection capabilities and critical infrastructure.
It is also positive that the budget provides for reserves that will allow for a faster response to unforeseen challenges should they arise, Braze said, adding that the total amount earmarked for Latvia is EUR 9.3 billion.
By 2034, Latvia is expected to reach 80 percent of the EU average per capita gross domestic product, she said.
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