Romania’s absorption rate for the 2014-2020 EU budget reached 67%

Romania has absorbed so far EUR 24 mln or 67% of the funds made available under the 2014-2020 multiannual financial framework (MMF), Government spokesman Dan Carbunaru announced.

Only this year, EUR 4 bln were absorbed, and projects worth EUR 750 mln are close to being launched, he added, according to Bursa.ro.

Problems generated by the increase in prices, both with labour and materials, slowed down the pace at which certain projects were implemented, but the Government took measures in this regard, Carbunaru commented.

Romania can still use the money under the 2014-2020 MFF until the end of 2023. But these projects will have to be implemented concomitantly with the projects also financed by the EU under the Recovery and Resilience Facility (RRF) - in the context of anyways strained administrative capacity.

Furthermore, Romania signed on October 5 the partnership agreement for the EUR 31 bln cohesion funds to be disbursed from the EU budget during the 2021-2024 MFF.

Using funds from the EU budget is critical for alleviating the public budget deficit and making financial consolidation possible.

(Photo source: Gov.ro)