Belgium’s share in the next Common Agricultural Policy budget has been reduced by 5% and, as a result Wallonia stands to lose 450 million euros in farm aid, Le Soir reported on Monday. The reduction in farm subsidies proposed for Belgium in the next EU financial programming was analysed by the south of the country. In current prices, Wallonia will lose 174.5 million euros in direct rural development aid, while Flanders will lose 159.5 million, according to the report by Le Soir, which obtained the information from an official note. In constant prices, the south of the country will have to make do without 450.9 million euros and the North, 405 million euros.
To support the farm sector, Wallonia’s Premier Willy Borsus (Reformist Movement) envisages a “safety net against excessively high price fluctuations”. This would basically be a type of insurance for times when the price of a commodity falls below a certain threshold.