The next EU multi -annual budget requires funding for funding / day

The Ministry of Finance (MoF) informed LETA that the meeting was to discuss Latvia and France cooperation, as well as the most pressing EU policy issues. During the meeting, special attention was paid to the next EU multiannual budget and European defense and security capacity.

The Minister presented Latvia’s view of four priorities in the context of the EU multi -annual budget – security and protection, cohesion policy, common agricultural policy and cross -border traffic infrastructure connectivity.

Both sides agreed that in the next EU multiannual budget, following the current EU issues in 2027, close cooperation between Member States and adequate funding increases to respond to increasing challenges for both security and economic resilience.

During the discussions, the Parties also discussed geopolitical issues, which have significantly changed the structure of both Latvia and the EU economy in recent years. As the Minister of Finance emphasized, Russia’s aggressive policy has forced Latvia to reorient its trade directions, while the current uncertainty created by the US information on tariffs creates additional challenges for the stability and growth of the EU economy.

Speaking about defense, Aseraden emphasized that Latvia is moving to 5% of gross domestic product to strengthen national defense capabilities. The Minister of Finance pointed out that Latvia is the country’s external borders and works for strengthening its defense capabilities. At the same time, it is clear that Europe needs its own security infrastructure and develops the local military industry. Therefore, the French Ambassador has also discussed issues of possible cooperation between countries in the field of military industry.

During the meeting, broader European level initiatives, such as the establishment of the Investment and Savings Union, were also discussed to mobilize European capital more effectively and to ensure both welfare and long -term security.