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Planned amendments in 2OP

Planned amendments in 2OP. Meeting with European Commission at Ministry of Finance October 1, 2008. Content. Challenges faced by Latvian economy Utilisation of structural funds Better utilisation of administrative resources Aid targeting: 2.3.2.4. Activity "High value-added investments“.

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Planned amendments in 2OP

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  1. Planned amendments in 2OP Meeting with European Commission at Ministry of Finance October 1, 2008

  2. Content • Challenges faced by Latvian economy • Utilisation of structural funds • Better utilisation of administrative resources • Aid targeting: 2.3.2.4. Activity "High value-added investments“

  3. Challenges faced by Latvian economy • Falling GDP increase • GDP outlook • Increase in 2008 between 0% and 1% • Increase in 2009 between 0% and 2% • GDP increase in manufacturing • Negative for last five quarters

  4. GDP

  5. Challenges for state budget • Budget deficit 1,85% from GDP for 2009 according to draft budget proposal • Government decisions • 2009 state budget decreased by 10,67% compared to 2008 • Decrease of central government administration • by 5% by December 2008 • by 5% by June 2009

  6. Utilisation of structural funds • 2OP MoEc funds • 41% available in 2008 • 53% available in 2009 • Criteria are not approved for 3 activities • Cabinet of ministers regulations are not drafted for 5 activities compromising 25 million lats or 7% of MoEc available funds in 2OP

  7. Better utilisation of administrative resources • Consolidate smaller “expensive” activities into 2.3.2.4. Activity "High value-added investments“ • 2.3.2.3. Activity "Cluster programm“ • Pilot programme financed from state budget • 5 clusters 30 000 lats each • Reallocating money, leaving activity • 2.3.1.1.2. Sub-activity "Access to international trade markets-strengthening international competitiveness of industry sector" • 2.2.1.2.1. Activity "Business angel network“ • Financed from holding fund • 2.1.2.1.3. Sub-activity "Centers of transfer of tehnologies“ • Total public financing 25 million lats • Place activity in 2.1.2.Measure 'Innovations'

  8. Aid targeting:2.3.2.4. Activity "High value-added investments“ • Hi tech industries (as defined by OECD and EUROSTAT) • Exporting industries • Max aid intensity 30% • Aid amount 1 – 3 million lats • Eligible costs • Equipment, technologies, buildings

  9. Hi tech industries (as defined by OECD and EUROSTAT, according to NACE Rev 1.1. codes) • Manufacturing: • 24 Manufacture of chemicals and chemical products • 29 Manufacture of machinery and equipment n.e.c. • 30 Office equipment and computer production • 31 Manufacture of electrical machinery and apparatus n.e.c. • 32 Radio, TV and communication equipment production • 33 Medical delicate and optical instruments, clock production • 34 Car, tailer and half-trailer production • 35 Other transport manufacturing • Services • 64.2 Telecommunications • 72 Computers and related activities • 73 Research and development • http://europa.eu.int/estatref/info/sdds/en/htec/htec_agg_nace.pdf

  10. Exporting industries (data from Central Statistical Bureau of Republic of Latvia)

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