LV: EC may cut Latvias funding by EUR 1bn.

By bne IntelliNews October 7, 2011
ECs proposals of cutting the 2014-2020 financing would mean decreasing Latvias EU funding by about EUR 1bn, deputy FinMin Alexander Antonov told the press. He noted that the government believes these proposals to be inadequate and is going to defend its interests. The three Baltic States prime ministers, together with Hungary, signed a respective letter to EC. It is proposed to limit the amount of funding to 2.5% of the GDP.
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