Romania sends EU money absorption rate up a notch after EUR 650 mln funding in October

Romania managed to absorb EUR 650 million in European money in October, bringing the total stock of EU funds absorbed by the country so far to some EUR 4.7 billion, according to recent data from the European Funding Ministry. This places the rate of absorption at some 24.5 percent, up a few percentage points from 21.1 percent end of September. Unblocking European Commission reimbursements in October on the Economic Competitiveness Increase Sectorial program POSCCE has helped achieve growth in October, as it resulted in EUR 196 million of reimbursements from this program only. The absorption rate on this program went up from 6.7 in September to 14.4 percent in October. A bigger absorption rate and the biggest chunk of money however came to Romania via the Human Resources Development Sectorial Program POSDRU: EUR 204 million in October, and an absorption rate of 25 percent, up from 19.3 percent in September. The biggest absorption rate was achieved on the Regional Operational Program POR: 42.3 percent in October, up from 40 percent the month before. The volume of EU money via this line was of EUR 87 million. Romania has been scolded on various occasions by EU officials for its low EU funds absorption rate, which was one of the reasons the country set up a special Ministry to deal with this sector lagging behind. editor@romania-insider.com