Agriculture Ministry collects EUR 664m, money reimbursed by the EC

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The Ministry of Agriculture and Rural Development (MADR) has been reimbursed EUR 664 million by the European Commission for the advance of the 2017 campaign from the direct payments financed from the European Agricultural Guarantee Fund, the ministry has announced on Monday in a press release, capital.ro informs.

“In the first week of January, the Ministry of Agriculture and Rural Development received the amount of EUR 664 million, representing the reimbursement from the European Commission, for the expenses of the Payment and Intervention Agency for Agriculture (APIA) during October 16 – November 30, 2017, for the advance of the 2017 campaign of direct payments financed from the EAGF (European Agricultural Guarantee Fund). These expenditures were originally financed from the state budget, according to the European provisions and subsequently reimbursed by the European Commission,” the release reads.

MADR states that the payments from EAGF are made at the exchange rate of RON 4.5993 for one EUR set by the European Central Bank (ECB), published by the Official Journal of the European Union.

In accordance with the legislation in force, advance payments were granted during October 16-November 30, 2017.

Under specific European regulations, payments under support schemes are made during December 1-June 30 of the following calendar year.

 

 

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