Romania’s Government plans to reach an 80% absorption rate of European funds next year, of the EUR 19.2 billion funds that Romania was allotted for the 2007-2013 period, according to Eugen Teodorovici, the minister in charge with EU funds.

“Today we stand at an absorption rate of about 39%, but our plan is to recover this delay next year and reach a total of 80% of the EUR 19.2 billion that Romania was allotted for the 2007-2013 period. This 80% is a very high level. Why? Because nobody expected Romania to get to the 39% rate at which it is today,” Teodorovici said.

He added that last year Romania sent EUR 3.5 billion worth of invoices to the European Commission and received EUR 2.8 billion which helped the economy grow by more than 2%. He estimates that this year, Romania will record at least EUR 2.9 billion in absorbed EU funds.

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