European funds absorption could reach 80% in Romania

Romania's European funds absorption rate corresponding to the 2007-2013 financial framework could go beyond 80% this year, according to Eugen Teodorovici, the European Funds Minister, cited by local Agerpres. Teodorovici also said that 2015 is a difficult year because two programming periods are overlapping. "There is the first period 2007-2013, ending in 2015, from which we must absorb as many funds as possible. We shouldn't forget that Romania lost almost five and a half years in which it basically did nothing and had an absorption rate close to zero." He added: "Before it was taking more than six months to evaluate and select a project, but today the average period is maximum two months, including the contract signing, which automatically leads to an acceleration of the process.” editor@romania-insider.com