European Commissioner Cretu: Romania will generate economic risks, unless it speeds up EU fund absorption

European Commissioner for Regional Policy Corina Cretu in Cluj on Thursday said that Romania will generate economic risks, unless it absorbs sufficient European funds.
‘Since I am in Romania, I must send this message: if in the period ahead Romania fails to speed up its pace of absorbing European funds, economic risks will spring up in Romania’s economy, in that its growth will slow down. It is a shame, because Romania is currently the country with the highest economic growth rate in the EU. Romania’s Government knows it has all the support of the European Commission, my support, for each European project conducted by Romania to change the life of citizens,’ Cretu said.
She also drew attention to the use of cohesion funds granted to the cities of Romania for which the deadline was extended until June.
‘It is a sign of confidence that the European Commission grants to the European cities; it is for the first time in the EU history when a part of the budget goes directly to and will be directly managed by cities. Romania has almost 20 percent of the total cohesion funds earmarked to its cities. My hope is that this election campaign will not prevent mayors from working on implementing some projects still underway and having June 2016 the completion deadline. We have made this exception for 58 major projects, from December 2015 to June 2016. I believe it is important that I sent you this message as European Commissioner, because if these works are not completed by June 2016, the money will be lost and we are talking about 58 major projects in the country,’ Cretu pointed out.

European Commissioner for Regional Policy Corina Cretu participated in Cluj on Thursday in a seminar ‘Simplifying Structural and European Investment Funds,’ together with Chair of the European Parliament’s Committee on Regional Development Iskra Mihaylova, MEP Mircea Diaconu and Deputy Prime Minister Vasile Dincu.

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