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absorption of EU funds

Minister Nica: Romania to end 2017 with a 5 pc EU funds absorption rate

Romania will end this year with a 5 percent absorption of European funds, amounting to EUR 1.23 billion, Minister-delegate for European Funds, Marius Nica announced. The European Commission (EC) will reimburse by end-December the amounts that Romania has sent to Brussels.

”It is a satisfactory result compared to 2016. I estimate we will have EUR 1.24 billion at the end of the year. It is a result that does not satisfy us in the perspective of 2018. Overall, together with the Common Agricultural Policy (CAP), the percentage of absorption at the end of the year will be somewhere at 10 percent,” Nica said.

He said the 1.1 percent announced by EC was the result available for August.

Romania spent only 1.1 percent of the EU funding granted for the 2014-2020 programming period, amounting to EUR 400.4 million, while Bulgaria and Poland had 7.5 percent and 6.5 percent respectively, according to Brussels data.

Most of the amount spent was through the European Regional Development Fund (ERDF), respectively EUR 241.9 million.

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