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Bucharest
January 23, 2022
BUSINESS

Romania’s EU funds-absorption process reaches dramatic stage

The absorption of European funds in Romania reached a dramatic stage, as, besides the risk of losing the funds allotted for the next term, Romanian economy still has trouble catching up with the other EU member states, Benoit Nadler, expert of the European Commission (EC)’s General Directorate for Regional Policy, stated, quoted by Mediafax. “Romania’s EU funds-absorption rate is a mere 3.5 pc. (…) Unless EU-funded projects are implemented, there won’t be any engine for economic recovery, as Romania does not have the mechanisms to back economic growth. Thus, Romania will lose some of its appeal as it will be harder and harder to catch up with other European states,” Benoit Nadler stated. Among the reasons accounting for such a low absorption rate, the EC representative mentioned technical bid procedures, the beneficiaries’ low means, as well as problems at management authority level. On the other hand, he argued there is an unwarranted amount of red tape at the level of management authorities.

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