ECONOMY FINANCE&BANKING

PM Dancila: Romania has caught up with EU average absorption rate

Premier Viorica Dancila announced on Wednesday that Romania has caught up with the EU average as regards the absorption rate of European funds.

“In the context of the events taking place these days, I also highlight the fact that we have reached the EU average as regards the absorption rate of European funds. According to European Commission data, Romania’s total absorption rate at the end of 2018 is 26 percent, while the EU average is 27 pct. Funding for agriculture has a major economic and social importance in this respect. The presented data proves the important contribution (…) of agriculture to economic growth, as a priority sector supported by the government both through legislative measures and through constant allocations from the budget, but also from European funds,” the PM said at the beginning of the government meeting.

Dancila added that in the first days of the year Romania received 807.5 million euro from the European Commission in funding provided to the farmers from the European Agricultural Guarantee Fund.

“As a result of well-organized work and of staying on schedule with farm subsidies, we will receive in early February a further 452 million euro, which means a total of 1.2 billion euro in European money for Romania’s agriculture,” the PM said.

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