Bulgaria: Over 150 million Euro lost from Russian embargo

In the current period, 13% of the total budget for direct payments for the "Fruits, vegetables and livestock" sector is being distributed, as reported by the Bulgarian Minister of Agriculture, Desislava Taneva.

"In the national budget, the funds released are incomparably smaller than those granted by Europe," stated the Minister. "There are also various state aid schemes, but significantly smaller," said Taneva.

Desislava Taneva also stressed that the allegations about Greek producers receiving three times more support than Bulgarian growers are not true.

Taneva assured that the sanctions and restrictions on European agricultural exports have had a considerable impact on Bulgarian agriculture.

Since the introduction of the Russian embargo, in August 2014, up until January 2016, the Bulgarian agricultural sector has lost nearly 300 million lev in revenue (153.11 million Euro). She explained that these losses in revenue are more the result of the falling prices for products affected by the veto than of the fall of direct sales, which are estimated at 20 million lev (10.21 million Euro).

"It is in Bulgaria's interest to find the quickest solution to restore traditional relations and markets; however, Bulgaria alone cannot do much without the help of other Member States," said Taneva.

Source: investor.bg

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