Support Measures and Financial Sources for Fishery Policy in Latvia

There are long-lasting traditions in the fishery industry of Latvia, yet its significance in the country's national economy shrinks if its share in the Gross Domestic Product is computed. It is one of the industries in Latvia that has a positive foreign trade balance and a stable position in exports, accounting for 2.4% of the total value of exports. To support the fishery industry in Latvia, the Fish Fund (FF) financed from the government budget was established in 1995. After Latvia's accession to the European Union (EU), support instruments of the Common Fisheries Policy (CFP) are available from the Financial Instrument for Fisheries Guidance (FIFG) for the period 2004-2006 and the European Fisheries Fund (EFF) for the period 2007-2013. Thus, after Latvia's accession to the EU, a funding of LVL 140.5 million from the EU Funds is available to support the fishery industry. The measures and results of all these three funds are analysed in the present research.