Romanias EU funds absorption improves by only 1pps to 6.56% in Q1 2012.

By bne IntelliNews April 6, 2012
Romania's EU funds absorption increased by only 1pps year-to-date in the first quarter of 2012 to 6.65% of the total amount earmarked for 2007-2013, data from the European affairs ministry showed. The government has set a 20pps increase target for the whole year. European affairs minister Leonard Orban, former European commissioner, has promised to improve the absorption rate from slightly above 5% at the end of last year to 25% at the end of 2012 in order to prevent losing a large portion of the EUR 19bn earmarked by the EU for the country under the 2007-2013 budget execution. Romania still expects to absorb EUR 6bn from the EU budget this year, out of which EUR 3.5bn under the structural and cohesion programme, Orban told daily Ziarul Financiar. The target is critical for supporting the country's GDP growth this year. The detailed data released by the European affairs ministry reveal absorption rates of between 3.38% for the operational programme for environment to 11.73% for the regional operational programme at the end of March. The operational programmes for transport and environment with the absorption rates rising by 2.74pps (to 6.1%) and 1.26pps (to 3.4%), respectively, were the best performed areas in the first quarter. Nonetheless, even in these sectors the performance was very weak.
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