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EU Farmers Reimbursed €868 Million

28 November 2014

EU – Farmers across Europe are being reimbursed a total of €868 million in direct aid by the Common Agricultural Policy.

Payments were earlier reduced by €868 million to establish a crisis reserve, ensuring total CAP spend remained within a financial framework for 2014-2020.

The European Commission stated that crisis reserves were not needed.

“Support measures taken from August 2014 onwards in the wake of the Russian embargo on EU agricultural products will only lead to EU expenditure for the 2015 budget,” a spokesperson said.

“Moreover, unused amounts of the European Agricultural Guarantee Fund in the 2014 budget were mobilised to prevent a cut to farmers' payments.

“Therefore, the Commission adopted on 24 November 2014 a regulation allowing Member States to reimburse, as of 1 December 2014, farmers a total of EUR 868 million.”

ThePigSite News Desk

Top image via Shutterstock

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