Madeira's PSD Push for Updated EU Support Amid Rising Costs
Madeira GuideThe Social Democratic Party (PSD) representatives from Madeira emphasize the urgent need for revised EU support, as current funds fall short against increasing production costs.
In a recent meeting held at the Assembly of the Republic, representatives from Madeira's Social Democratic Party (PSD) have called for a thorough revision of the POSEI program. This call for action highlights the critical need for updated financial aid from the European Union to better support the island's agriculture sector.
POSEI, a program designed to provide financial assistance to agricultural sectors in outermost regions of the EU, has not been updated for over two decades. This stagnation has left Madeira's farmers struggling with insufficient funds to cover rising costs in areas such as energy, fertilizers, transportation, and labor.
Pedro Coelho, a PSD deputy, argued that the outdated funding model poses significant disadvantages to Madeira's agricultural sector. He pointed out that due to the inadequacy of POSEI funds, supplementary support has had to be drawn from the Regional Budget, which is not sustainable in the long term.
The importance of adjusting the financial allocations to reflect the current economic realities was emphasized during a session with European Commissioner Maria Luís Albuquerque. The deputies stressed that without these crucial updates, Madeira's agriculture, a vital component of the island's economy, faces potential decline.
This issue is particularly pressing given the economic challenges posed by global inflation and increased production costs. The PSD's advocacy for updated EU support underscores the need to safeguard Madeira's agricultural heritage and ensure its future sustainability.
'The POSEI funds need urgent revision to meet today's economic challenges,' stated Pedro Coelho during the session.
Sources
Madeira Guide
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