Reallocation of EU funds according to national economy needs
To ensure the European Union (EU) financing complying with the needs of the national economy, on July 7, the Government with the order of the Cabinet of Ministers (CoM) approved amendments to the Operational Programmes “Human Resources” and “Entrepreneurship and Innovations”.
Within the framework of the Operational Programme “Entrepreneurship and Innovations” the financing was re-distributed granting additional 20 million lats to the activity “Guarantees for enhancement of competitiveness of commercial entities”, including for granting state export credit guarantees. By granting state guarantees it is planned to maintain export volume and jobs, facilitate external trade balance and such macroeconomic indicators as gross domestic product and increase in the state budget income.
Within the framework of the Operational Programme “Human Resources and Employment” financing has been redistributed in amount of 94.9 million lats allocating additional financing to vocational education in amount of 15 million lats, improving competitiveness of teachers in amount of 20 million lats, facilitating social integration measures in amount of 14 million lats and employment measures in amount of 45.9 million lats.
Taking into account the economic situation in the country the technical assistance EU funds co-financing rate has also been changed from 85% to 100% decreasing national public financing by 2 267 252 lats for Operational Programme “Human Resources and Employment” and by 2 850 704 lats for the Operational Programme “Entrepreneurship and Innovations” thus decreasing the state budget expenditure.
Both Operational Programmes have also been simplified by stating that activity descriptions and the measure target group is indicative thus entitling Latvia to update the content of activities specifying its national programming documents. Therefore the number of issues will reduce which should be agreed with the European Commission without delaying implementation of activities.
Information prepared by:
Elīna Dobulāne
Head of Press Division
Phone: 67083850, Elina.Dobulane@fm.gov.lv
