CONSIDERATIONS REGARDING EUROPEAN FUNDS ABSORPTION IN ROMANIA

Following accession in 2007, Romania is eligible for more than 19 billion euro of the EU’s structural and cohesion funds. However, open questions remain about the Romanian administration’s capacity to make use of these huge amounts of money. Romania should focus on the absorption of European funds in the upcoming period, which would ensure the balanced convergence with the western economies and bring benefits to the other sectors. Fund-absorption, in its deep meaning, does not mean funds distribution, throwing money from an airplane or giving money. One does not receive money unless one has an absorption capability. Romania is eligible for 19.7 billion euro of funds from the EU in 2007-2013. A debate is emerging on whether the country’s government and companies will be able to conduct the necessary projects and make use of the funds available from the EU.