Romania's Government hopes to reach a 70% EU funds absorption rate

The Government will try to save what still can be saved in terms of the absorption of EU funds allocated to Romania via the 2007-2013 programme. About 5,500 projects of the 15,000 projects which have been implemented should be completed this year, said the new EU funds minister Aura Raducu. The Ministry is trying to save certain projects, using the "phased projects" mechanism, which would help finance at least part of the investment from the 2007-2013 funds even if the whole project is not yet finished. The absorption rate currently amounts to 60%. “I don’t know a precise figure, but I really want to exceed 70%,” Raducu added. She said she would present to the Government a series of law changes needed to accelerate EU funds absorption. editor@romania-insider.com