EU farm payments down 4 pct in 2014 due to budget cuts
09 October 2013, 18:35 CET
(BRUSSELS) - The European Commission on Wednesday said it would have to reduce direct payments to Europe's farmers by four percent in 2014 due to cuts in the European Union budget.
The move will enable savings of 1.47 billion euros, a Commission spokesman said.
The EU's long-term 2014-2020 budget aims to cut spending under the Common Agricutural Policy by 12 percent to 373.2 billion euros.
The cut will not affect farmers in newer members Romania and Bulgaria or Croatia, which joined this year.