The EU agricultural budget is revised
The EU Agricultural Budget for 2004 has been reduced by € 1 billion in the light of the reduced need for export refunds for cereals following the summer drought, which has reduced EU cereal production. This leaves the EU with a contingency reserve of € 4.3 billion. Comment: Savings of this order of magnitude could make reform of the EU sugar regime financially easier. With the euro strong against the US dollar, payments for export refunds on sugar have had to increase, strengthening the need for sugar-sector reform.
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| Main Author: | |
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| Format: | News Item biblioteca |
| Language: | English |
| Published: |
Technical Centre for Agricultural and Rural Cooperation
2003
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| Online Access: | https://hdl.handle.net/10568/52813 http://agritrade.cta.int/Back-issues/Agriculture-monthly-news-update/2003/December-2003 |
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| Summary: | The EU Agricultural Budget for 2004 has
been reduced by €
1 billion in the light of the reduced need
for export refunds for cereals following the summer drought, which
has reduced EU cereal production. This leaves the EU with a contingency
reserve of €
4.3 billion.
Comment:
Savings of this order of magnitude could make reform of the EU sugar
regime financially easier. With the euro strong against the US dollar,
payments for export refunds on sugar have had to increase, strengthening
the need for sugar-sector reform. |
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