Romania Attracts $19b in EU Funds
Romania Attracts $19b in EU Funds

Romania Attracts $19b in EU Funds

Romania Attracts $19b in EU Funds

Romania had attracted, by the end of 2016, €17 billion ($19.29 billion) in EU funds, out of the €18.8 billion for the 2007–2013 financial framework, recording a 90.4% absorption rate, the National Bank of Romania said in a report.
Romania’s performance was below that of all of its neighbors, namely 5% below that of Bulgaria, Czech Republic, Estonia, Lithuania, Latvia, Poland, Slovakia, Slovenia and Hungary, Business Review reported.
According to the BNR, approximately two thirds of these amounts were evenly distributed, (around €4 billion in each case) for the funding projects in three main sectors: development of transport infrastructure, environment protection (mainly expansion and modernization works of water systems, works for the development of integrated waste management systems), and development of educational infrastructure, that of lifelong education and funding of micro enterprises.
The rest of the EU funds attracted were directed towards education and training of human resources, including in rural areas, the development of social inclusion, namely the streamlining of economic activity, including through the funding of R&D projects, the BNR report shows.
According to the BNR, in the new financial framework, entries have so far been represented only by advances, and no information is available on the use of these amounts. “The low absorption of the structural and cohesion funds trigger an opportunity cost from the perspective of the convergence of the Romanian economy, as it was noticed that the regions with higher absorption rates between 2007-2014 usually have a faster pace of development.


Short URL : https://goo.gl/KmTs2J
  1. https://goo.gl/QqmczX
  • https://goo.gl/AhVaJw
  • https://goo.gl/eaaqjk
  • https://goo.gl/1TgikQ
  • https://goo.gl/iGS8Mr

You can also read ...

China and India continue to remain the most promising investment destinations in 2017.
Developing Asia is expected to witness a 15% increase in...
Thai CB Retains Key Rate
Thailand’s central bank on Wednesday left its key interest...
Brazil Raises Deficit Ceiling
Brazil is raising its deficit ceiling for this year and 2018...
Elon Musk, Kevin Plank, Bob Iger, Richard Trumka, Kenneth Carleton Frazier
The honeymoon is definitely over. When US President Donald...
Riksbank is under pressure to tighten its ultra-loose monetary policy.
Underlying inflation topped the Swedish central bank’s target...
At 310% GDP, China’s banking sector is above the advanced economy average and nearly three times  the emerging market average.
China's economy is looking good enough that the International...
Crude oil accounts for 96% of exports and around half of state revenue.
Venezuela might look bad right now amid protests, scarce food...
US Household Debt at $12.8 Trillion
US household debt reached a new record in the second quarter,...

Add new comment

Read our comment policy before posting your viewpoints

Enter the characters shown in the image.