Romania Likely To Spend Just 38% of EUR20 Billion Structural Funds

05.06.2011 ZF English

At the current pace of attracting European money, Romania will attract only 38% of the EUR20 billion in structural funds available between 2007 and 2013, according to an analysis conducted by Dragoş Pîslaru, general manager of consultancy GEA Strategy&Consulting.

The absorption rate is currently 3.2%. 2015 is the year when the last payments from the EU can be made for contracts signed previously, according to the "n plus 2" principle, although the budgetary years are 2007-2013.

The analysis was presented yesterday at the debate titled "EU are weighing costs and benefits," organised by the European Development Platform, a non-governmental organisation created by Daniel Dăianu, former finance minister and former EU parliamentarian of the PNL (National Liberal Party).

Out of the EUR20 billion in structural funds, EUR4.25 billion are funds for human resources, EUR4.5 billion for infrastructure, EUR4 billion for the environment and the rest for other sectors such as SMEs. Romania has another EUR12 billion available for agriculture during this period.

Overall payments made for European programmes, which include both payments from the EU, pre-financing and payments from the Romanian state, rose from EUR600 million in December 2009 to EUR1.7 billion in December 2010 and are scheduled to rise to EUR4.7 billion in December 2011.

The study reveals that the funds would be fully absorbed in 2019 at this rate, so Romania would need another six years to get all the money from the EU.