November 23, 2017

EC official: European fund absorption situation in Romania goes dramatic

European Commission representative Benoiu Nadler said that the situation of EU fund absorption by Romania is dramatic because, besides the risk of losing the money allocated for the near future, Romanian economy is too slow in catching up with other EU states. The EC official said that the absorption rate of EU funds by Romania is only 3.5%. He also said that if there are no projects implemented with European funds, there will be no engine for economic relaunch. Romania will thus lose its attractiveness because it will be increasingly difficult to catch up with other European states. Among the reasons for the low fund absorption rate are technical auction procedures, low beneficiaries’ capacity and problems at management authorities’ level, Nadler said. The EC representative also criticized the high bureaucracy level and called on management authorities to simplify procedures instead of complaining about lack of personnel.

Source: Bucharest Herald (read more)

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Comments

  1. Mircea says:

    The reality is that fund absorption in Romania is working slow because of the internal instability and goverment institutions are very difficult with approvals.

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