| Author (Corporate) | European Commission |
|---|---|
| Series Title | COM |
| Series Details | (2017) 150 final (30.3.17) |
| Publication Date | 30/03/2017 |
| Content Type | Policy-making |
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In order to support the agricultural sector in case of major crises affecting the agricultural production or distribution, a reserve for crises should be established by applying, at the beginning of each year, a reduction to direct payments through a financial discipline mechanism which is provided for in Article 26 of Regulation (EU) No 1306/2013 of 17 December 2013 of the European Parliament and of the Council on the financing, management and monitoring of the common agricultural policy. Article 25 of the Regulation determines that the total amount of the reserve for crises in agricultural sector shall be €2,800 million with equal annual instalments of €400 million (at 2011 prices) for the period 2014-2020. The amount of the reserve to be included in the Commission 2018 Draft Budget amounts to €459.5 million in current prices, covered via a reduction to direct payments listed in Annex I of Regulation (EU) No 1307/2013 of the European Parliament and of the Council of 17 December 2013 establishing rules for direct payments to farmers under support schemes within the framework of the Common Agricultural Policy (CAP). In drawing up the 2018 Draft Budget, the first budgetary estimates for direct payments and market related expenditure showed that the net balance available for EAGF expenditure for 2018 is not likely to be exceeded and thus there is no need for further financial discipline. On the basis of the above, the Commission presents a proposal for setting the adjustment rate for direct payments in respect of calendar year 2017, which in accordance with Article 26(3) of Regulation (EU) No 1306/2013 is to be adopted by the European Parliament and the Council by 30 June 2017. If this adjustment rate has not been set by 30 June 2017, pursuant to the same Article the Commission will set that rate. |
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| Source Link | Link to Main Source http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=COM:2017:150:FIN |
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| Subject Categories | Business and Industry |
| Countries / Regions | Europe |
