Brussels, 14/11/2005 (Agence Europe) - On 26 October this year, the European Commission adopted Amending Letter No. 2 to the Preliminary Draft Budget for 2006 cutting farm spending by EUR 362 mil. The Commission has changed its euro/dollar exchange rate forecasts, used for calculating export refunds, thereby cutting spending by EUR 169 mil on arable crops, sugar and cotton.
Leaving aside rural development, EU farm spending for 2006 is now estimated at EUR 43,280,000, 000 rather than EUR...