EC: Romania Falling Further Behind Rest Of EU Because Of Poor Fund Absorption

Romania's poor absorption of European funds, only 3.5%, may cause the country to not only be allotted less money in the next EU fiscal plan, but also to lag further behind the rest of the Union, said Benoit Nadler, specialist with the European Commission's DG for Regional Policy.

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Without projects implemented using EU funds, Romania has no engines for economic growth and will have a harder time closing the gap to other European states, Nadler warned.

Reasons for its poor absorption rate, according to the EC official, include overcomplicated procurement procedures, red tape and incompetent staff at fund management authorities.

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