Business association warns Romania may lose 30%-70% of the EUR 11 bln RRF expected this year

Romania could lose between EUR 3 billion and EUR 7 billion in funding from the EU Recovery and Resilience Facility (RRF) this year, depending on its ability to absorb the remaining resources, according to Paul Aparaschivei, executive director of the Concordia employers' confederation, one of the country's largest business associations, speaking to G4media.ro. Extreme weak absorption of RRF money would be associated with problematic budget execution, resulting in pressures on the sovereign rating.

Aparaschivei said Romania was unlikely to absorb the entire EUR 10 billion still available under the facility.