The FM says in the report that ministries are working on urgent measures to make the most of the state budget spending options for the country's economic development in 2024.
The FM report stresses that if the investments of EU funds for the period 2021-2027 are not accelerated, Latvia may lose EU funding following the European Commission (EC) framework under the specified minimum declared targets.
In order not to lose EU funding for the 2021-2027 period, budget spending in 2025 should be around €750 million but currently it is estimated at €505 million, the report said.
The FM report mentions that the unused funding in projects of the 2014-2020 period of EU funds is approximately 200 million euros, including 99 million euros in projects of the Ministry of Transport, 33 million euros in projects of the Ministry of Health, 31 million euros in projects of the Ministry of Economics, 17 million euros in projects of the Ministry of Environmental Protection and Regional Development, eight million euros in projects of the Ministry of Education and Science, seven million euros in projects of the Ministry of Culture and four million euros in Ministry of Welfare projects.
The report mentions the “Latvijas Railways” projects (EUR 54 million), the “Pauls Stradins Clinical University Hospital (PSKUS) A2 Building project (EUR 30 million), the Kundzinsala project (EUR 21 million), as well as the “Pasazieru Vilciens” new electric train project (EUR 13 million).
In the information report, the FM notes that future meetings of the thematic committee of EU funds will examine proposals and agreements on immediate amendments to the program of EU funds for the period 2021-2027.
By June 30, the FM will submit to the Cabinet a proposal for amendments to the 2021-2027 program of EU funds.
