Over 60% of the European funds that enter Romania later return abroad, said the MEP Catalin Ivan.

He explained that Romania sets its own priorities at state level on the spending of the EU money, but the country doesn’t have a support policy for high-tech industries, with an added value, with well-paid jobs, reports local Agerpres.

“A very simple calculation shows that over 60% of the EU money on structural funds that enter Romania return abroad on acquisitions, on all kinds of equipment that we need to carry out ambitious projects that we establish, but that we don’t produce,” he said.

Ivan added that it’s an entire economic mechanism that brings money into the country and could create an added value if people knew how to use it. His main argument was that money returns to developed countries that have an industry and carry out research. They create new products.

Ivan spoke during the debate “Where do profits in Romania go?”

editor@romania-insider.com

(photo source: Catalin Ivan on Facebook)