Brexit| Romania risks losing EUR 80 million in EU subsidies

Romania risks losing around EUR 80 million in EU subsidies due to the United Kingdom’s exit from the European Union, Agriculture Minister Achim Irimescu said on Thursday at a press conference.

“According to initial assessments, the United Kingdom is contributing annually with EUR 13 billion to the European budget, which this year is made up of commitments and payment appropriation. Commitments bring EUR 144 billion to the European budget and we can calculate to see what it means to withdraw EUR 13 billion. I checked with my colleagues in Brussels and it would affect the EU’s budget for Romanua by around 2-3 percent,” the Ministry of Agriculture stated.

Although the minister cautioned that the reduction will likely not be applied uniformly, and negotiations are expected to take place, initial assessments show that Romania will lose around EUR 80 million.

“I am not sure whether ir will apply uniformly [the reduction], because do not forget that Daician Ciolos made an objective of his mandate as Commissioner for Agriculture to close the gap on direct payments at European level. This is exactly what has happened […] I cannot tell you exactly what will happen, there will be negotiations, remains to be seen what will happen, but there is a risk that Romania will loose annually up to EUR 80 million, Minister of Agriculture Achim Irimescu said.

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