Romania to reach 80 per cent absorption rate of EU funds next year, minister says

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EU funds’ absorption rate must be above any political agenda and correlated with public investments, said a KPMG official.

 According to the EU funds’ minister Eugen Teodorovici, Romania will end next year the financial scheme for the 2007-2013 period with an 80 per cent absorption rate of the EU funds, and this year’s absorption rate will exceed 50 per cent.

“The current financial framework will exert that, this year, we will have invoices sent to the European Commission amounting to EUR 3.5 billion, therefore at least as much as we had last year, so we will avoid that risk of automatically losing the funds. We are receiving in 2014 at least EUR 3.5 billion, with at least 700 million more than we received in 2013. We will exceed that percentage of 50 per cent, this goes without saying. Next year we will end the current financial framework for at least 80 per cent of what Romania has received in 2007-2013, specifically EUR 19.2 billion,” said Teodorovici at the Government.

He added that, for the future financial exercise 2014-2020, the first calls for funding proposals will be launched in October and November.

Nevertheless, Serban Toader as quoted by ZF, senior partner with KPMG Romania and Moldova, considers that the strategy for EU funds’ absorption should be correlated to a greater extend with public investments sustained by budget resources, so that all public funds, regardless the source of funding, to be allocated according to national development priorities, regardless the political agendas of the institutions involved.

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