Romania got EUR 18.5 bln since joining the EU

Romania has received EUR 18.5 billion net from the European Union since joining the union on January 1, 2007, until end-March 2015, according to official data presented by the Government. Romania received a total or EUR 29.8 billion EU funds (absorbed) and contributed EUR 11.35 billion to the EU budget, the data shows. Romania received EUR 2.7 billion worth of pre-accession funds and EUR 27.15 billion post-accession funds. Most of the money were structural and cohesion funds (EUR 11.65 billion), agriculture and rural development funds (EUR 6.75 billion) and direct payments to farmers (EUR 7.25 billion). The absorption rate was higher for rural development funds, as Romania managed to draw about 80% of the allotted fund, compared to a 49% absorption rate for structural and cohesion funds. Romania can still get EU funds from the 2007-2013 EU budgeting period until the end of this year, but also risks paying back money that it already received, if it doesn’t finish the infrastructure projects financed by EU funds. editor@romania-insider.com