Romania ended the year on the last place in the European Union (EU) in terms of the absorption rate of the EU funds, according to an analysis made by Euronews.

Romania has spent just 53.9% of the EU structural funds which it was handed for the 2007-2013 period, according to statistics from the European Commission. Romania had around EUR 19.2 billion to spend for the period.

Romania still has some EUR 8.8 billion to spend this year from the 2007-2013 EU funds. Otherwise, it will lose the money.

Slovakia and the Czech Republic, who joined the EU before Romania, also fared badly, spending 56.3% and 61.3% of their allocated funds.

The European Commission recently rejected Slovakia’s proposal to get a one-year extension on unpaid bills from the 2007-2013 EU budget, to 2016. Slovakia’s proposal was also supported by Romania, Bulgaria and the Czech Republic.

Bulgaria managed to spend about 65% of the money it got from the EU for the 2007-2013 period. Hungary has spent about 72% of the EU funds and Poland – 83%. The region’s champions in terms of funds spent are Lithuania and Estonia, which have spent over 90% of the EU funds allotted to them.

Elsewhere, only Portugal managed to spend more than 90% of the EU funds, and Sweden got very close to a 90% absorption rate, while Italy only spent 62% of the EU funds allotted to it.

editor@romania-insider.com