The EU funds absorbed by Romania in 2011 were almost entirely susceptible of fraud, according to the European Commission quoted by Catalin Ivan, leader of the Social Democratic Party (PSD) EMP delegation. As many as EUR 505 million out of the EUR 515 million absorbed during 2011 by the Government led by Emil Boc was susceptible to fraud. Only EUR 10 million was spent correctly, said Ivan.

He pointed a finger at the former regional development and tourism minister Elena Udrea and the former head of the Authority of Public Acquisition Regulation ANRMAP, Cristina Traila. Both of whom are running for seats in the Parliament in the next elections.

Romania is in dire straits when it comes to EU funding. Some of its financing lines have been suspended due to irregularities and the absorption rate is painfully low.

The country's EU funds absorption rate is among the lowest in the EU, of 9.7 percent in September. European Commission (EC) direct reimbursments to Romania was just over EUR 1 million, while the payments were blocked on the five main operational programs.

Romania managed to access in the first nine months of this year nearly EUR 850 million from the structural and cohesion funds. The target early in 2012 was EUR 3.5 billion, with an absorption rate of 20 percent.

Payments for Transport and Competitiveness were interrupted in July this year, and the pre-suspension procedure was the next step.

editor@romania-insider.com

(photo source: sxc.hu)