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September 28, 2020
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Economy Romanian News

Romania Picks Up on European Funds Absorption

Romania absorbed more European funds in the first 10 months since the current Government is in office. According to the PM Ludovic Orban, Romania has absorbed EUR 2.7 Billion since the liberal government took power, as compared to the previous 10 months, when only EUR 1.1 billion were absorbed.

I looked over the data. We absorbed almost EUR 2.7 billion in these 10 months since we took power. As a comparison, the previous socialist government absorbed EUR 1.1 billion. It is a difference, right? Still, we have to speed up the absorption rate.

PM Ludovic Orban

The absorption rate is a big problem in Romania. Data collected before the pandemic, up to February, showed that Romania had absorbed only 29% of the EUR 30.9 billion structural and cohesion funds allotted for 2014-2020 from the multi-annual budget.

Especially during this global economic context, Romania has to speed up the absorption rate, as PM said. It’s a good opportunity for a country which was, along with other European countries, hit hard by the global pandemic.

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