A subject under broad debate in mass media and expert circles ever since before Romania’s joining the EU on January 1, 2007 is the absorption of non-reimbursable European funds established during accession negotiations and promised under the Union budget; the due absorption thereof is a priority.
According to the latest data published by daily Economistul, Romania has duly paid its quarterly contributions for 2007, and spending for Romania from the EU budget was over 1.6 bln euro in 2007, of which 789.1 million euro in structural funds; 421.4 million euro in cohesion funds and 23.9 million euro in funds for agriculture. The most recent estimations show that only 21 pct of the monies was spent, mostly for pre-accession projects that carried on after Romania joined the EU.
The EU plans to bring all European regions in old and new member states to a similar development level, notes the article. Over 2007-2013, Romania was earmarked 30 billion euro in non-reimbursable funding that can be accessed only through projects the goals of which are in line with EU priorities of convergent regional development.
Experts hope that the absorption degree this year hits 60 pct; preliminary data published by the Ministry of Economy and Finance shows a considerably higher number of approved projects, worth 2.08 billion euro, out of which 1.77 billion euro covered from European funds.
Experts expect the substantial inflow of European funds to have positive macroeconomic effects, inclusively on the monetary market, appeasing pressure on the local currency – the leu – boosting infrastructure works and pushing the GDP higher. Substantial changes are expected in rural areas where subsistence agriculture will lose ground.
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