The absorption rate of EU funds in the Romanian wine sector fell worryingly

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The National Vineyard Growers and Wine Producers Association (PNVV) warns that the absorption rate of European funds in the domestic wine sector has fallen alarmingly, at about 10 percent today, from 100 percent in 2014, primarily due to the Romania’s Court of Accounts’ interferences in drafting legislation.

PNVV points out in a press release that this has generated major bottlenecks in accessing European funding programs.

Moreover, the Association states that the current political crisis, as well as the blockages in the central public institutions, seriously affect the Romanian economy and producers.

According to  International Organization of Vine and Wine (OIV), Romanian wine production decreased by 8 percent last year to about 3.3 million hectoliters

2016 was the third consecutive year of decline on the local wine market.

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