Financiarul

The structural fund absorption has been witnessing a slow development during the first two yeas after Romania joined the EU, but during the first half of this year, the Government took several steps, aimed at leading to a significant improvement of the process, sources of KPMG Romania publications on Audit, Taxes and Advisory say.

As a matter of fact, among the Central and Eastern European counties, Romania succeeded scoring the highest advance in fund absorption on the environmental projects, over the last two years, KPMG Romania European Funds and Public Sector consultancy director Florin Banateanu told.

According to a survey of the economies of the Central and Eastern European counties, and which Banateanu presented during the KPMG summer forum on Monday, the progress scored over 2007-2008, according to the budget available during 2007-2013 amounted to 39 percent for the environment projects, while it grew by 19 percent in Bulgaria, 20 percent in Latvia, 13 percent in Hungary, and 3 percent in Estonia and Slovakia.

The KPMG summer forum on Thursday will also approach economic topical issues, and officials of some of the most important Romanian environment companies are also expected to attend.

In Romania, the effects of the world economic crisis have been felt a little bit later than in the US and Western Europe, but the year 2009 has been difficult in business and the public sector, so far.

The state budget is facing big challenges, due to the drop in the incomes from taxes and fees. The IMF agreement has backed up the state finances, somehow, and the EU funds available for Romania supply an important incentive to the economic recovery.

Although Romania continues offering the investors many opportunities, it is still too soon to say that the Romanian economy becomes convalescent, KPMG experts believe.