Romania's absorption rate for 2014-2020 EU's budget: 47.8%
Romania absorbed less than half (47.8%) of the funds it was made available under the 2014-2020 European Union's budget, less than three years before the expiry of the deadline (2023).
Andrei Chirileasa · Journalist
· Updated · 1 min read
Romania absorbed less than half (47.8%) of the funds it was made available under the 2014-2020 European Union's budget, less than three years before the expiry of the deadline (2023).
In total, Romania was allocated EUR 22.6 bln, out of which it has used EUR 10.6 bln so far, Ziarul Financiar reported.
The average was dragged up by the distribution of grants in agriculture, where the 'absorption' rate was 93% of the EUR 11.3 bln dedicated.
"The new financial framework [2021-2027] has already begun. We should have had ready the guidelines submitted for approval. Unfortunately, in the other two financial frameworks, we did not draw lessons and did not prepare. It remains to be seen how many years we lose until we start to have projects submitted and absorbed," said Cosmin Drăgoi, general manager of Finacom Romania, a company that offers financial consulting services.
(Photo source: Marian Vejcik/Dreamstime.com)
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