Batt O'Keeffe
Ceist:248 Mr. B. O'Keeffe asked the Minister for Agriculture, Food and Forestry if he has satisfied himself that moneys due from the EU on foot of FEOGA transactions are recovered at an early date. [7618/95]
Written Answers. - FEOGA Transactions.
Money due from the EU for FEOGA transactions are recouped some six weeks after expenditure. The Department borrows funds to cover this period. FEOGA expenditure is subsequently audited by the European Commission and adjustments may be made at that stage, after which recovery, wherever possible, is considered.
Batt O'Keeffe
Ceist:249 Mr. B. O'Keeffe asked the Minister for Agriculture, Food and Forestry the exchange losses incurred on FEOGA transactions in 1994. [7619/95]
My Department borrows to fund expenditure on FEOGA Guarantee schemes pending recoupment from the EU some six weeks later and also to finance the purchase of product into intervention.
Exchange gains of IR£15.6 million were credited to the Exchequer during 1994 in respect of foreign borrowing transactions.