The current EU funds absorption rate reached 63.4% at the end of February whereas the effective rate amounted to 58.8% for the 2007-2013 programming period, according to the EU Funds Ministry.

The absorption rate reflects the total payment requests filed with the European Commission and the effective rate shows how much money the European Commission has actually paid Romania from the whole amount allotted to the country in the programming period.

Romania has declared expenditure of over EUR 12 billion by the end of February, which corresponds to an absorption rate of 63.4%.

The European Commission has reimbursed EUR 11.2 billion to Romania of the EUR 19 billion allotted to the country.

At the end of February, the EU Funds Minister Aura Raducu said that Romania had spent 75% of the EU funds in the 2007-2013 period. Some of the expenses made still needed to be reimbursed by the European Commission.

editor@romania-insider.com