EC: Romania absorbs funds from EU budget at dramatic level.

By bne IntelliNews October 28, 2011
The low speed of absorbing funds from the EU budget is dramatic not only because the country risk losing part of the money earmarked [for 2007-2013] but also because this impedes the country's convergence toward the other EU states, EC's representative Benoit Nadler commented, quoted by Mediafax. Nadler mentioned three causes for the low absorption rate, quoted at 3.5% [of the total 2007-2013 earmarking]: technical aspects of the auctions, the low capacity of the final recipients and the poor functioning of the local funds' management institutions. The procedures at the level of the local institution for the management of EU funds can be simplified significantly, Nadler stressed. The local authorities offset their low capacity with an excess of procedures [aimed at dissipating the responsibility], he explained.
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