26.5 C
Bucharest
May 16, 2022
BUSINESS

IMF tells Government it has relied too much on EU funds

IMF cautioned the Romanian authorities they have relied too much on money coming from EU sources and they undertaken too much expenditure to be covered from the funds allotted by the EU, considering that the drawings from the EU funds were modest, Mediafax reports. “IMF experts told that Romanian side that they included in the budget too much expenditure covered from European funds, considering that the amounts used and contracts from these funds are low. They reproached authorities relied too much on the EU funds,” sources participating to the talks said. Sources say the government representatives indicated they were expecting a raise in payments during the second part of the year, by more than EUR 1 bln, considering that six out of seven operational programs were accredited. Two weeks ago PM Emil Boc warned Romania could lose pre-accession funds such as PHARE, ISPA and SAPARD because of delays registered in certain projects and he indicated that the procedures envisaged for contracting the amounts had to be speeded up.

Related posts

Wind energy transactions on the rise

Test

Nuclearelectrica to participate in Hidro Tarnita, HVDCC Romania-Turkey

Nine O' Clock

AXA Group no longer sells operations in Romania

Nine O' Clock