SANTA CRUZ DE TENERIFE, 12th February. (EUROPA PRESS) –
In its meeting on Monday, the Government of the Canary Islands has approved proposals to modify balances and aid amounts for the Specific Supply Regime (REA) for the 2024 campaign, within the allowable 20% annual increase limit set by European regulations.
These modifications have been unanimously agreed upon by all the sectors involved in the REA Monitoring Commission. Consequently, the approval of this update of the aid amounts has been brought forward to February.
By doing so, the regional government fulfills its commitment to meet the demand of the sectors to update aid amounts in the early weeks of the year. This is in line with the increasing extra costs incurred during this period, ensuring an optimization of the financial statement and higher execution levels compared to previous years.
The proposals put forward by the primary, industrial, and direct consumption sectors, including respective increases and reductions in balances and aid, are estimated to result in a financial execution close to 100% of the available budget, currently set at 62 million euros.
The current Government has continuously monitored the aid’s evolution and the sectors’ demands. The modifications approved in July 2023, shortly after the inauguration of this Government, and in October of the same year have positively impacted the primary sector, the Canary Islands industry, and direct consumption, helping to offset the current high costs, as stated by the vice president, Manuel Domínguez, during a press conference.
Without these reviews and aid increases, the REA balance amounts would not have been effectively utilized, leading to underuse of the financial record.
CHALLENGING TIMES DUE TO GEOPOLITICAL ISSUES
Manuel Domínguez emphasized the consensus achieved amidst challenging times for a sector affected by rising freight costs, the Red Sea conflict, the War in Ukraine, and inflation.
“This Government takes on the challenge of supporting the producers and the Canarian industry, ensuring compliance with the REA, and expediting aid distribution to its beneficiaries with the necessary intensity to tackle the extra costs they are facing,” he commented.
On the other hand, the Minister of Agriculture, Livestock, Fisheries, and Food Sovereignty, Narvay Quintero, noted that this is the first time a modification has occurred at the beginning of the year and highlighted its beneficial effects for the livestock sector. The adjustment helps reduce the cost of raw materials for animal feed, which represents a significant portion of the expenses for livestock farms in the islands.”
He added, “It fulfills a commitment from the Canary Islands Executive, as promised.”
