Development depends on CAP

TALLINN - The Latvian economy is stabilizing, and the availability of EU agriculture and cohesion funding will play an important role in its further economic development, according to Saeima Speaker Solvita Aboltina (Unity), reports news agency LETA. Aboltina made her statement in the Baltic Assembly Parliament Speakers’ Conference in Estonia.
She spoke about Latvia’s achievements in overcoming the recession and announced that Latvia’s GDP in the second quarter rose 5.3 percent, which was a considerable increase from earlier estimates.

“Exports also increased sharply, and the ratings agency Moody’s has raised Latvia’s credit rating,” expressed Aboltina.
Aboltina said that the discussions about the available agriculture and cohesion funding in the new EU’s multi-year budget will play an important role in Latvia’s economic development. For this reason, on July 14, the Saeima adopted the statements on EU Cohesion Policy and an Equitable Common Agricultural Policy of the European Union after 2013. The government calls for building a fair, common agricultural policy in the EU, in which all member states would receive equal direct area payments, and ensuring cohesion funding that would not threaten implementation of successfully-launched investment programs.

The speaker was in Estonia on the invitation of Estonia’s Speaker of the Parliament Ene Ergma, for the annual conference of the Baltic Assembly Parliament Speakers.