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Romania’s 2015 GDP Seen 15-20% Above Prognosis On EU Funds Absorption – Fin Min Director

Romania’s gross domestic product might be 15-20% above the estimation of the National Prognosis Commission carried out for 2015, due mainly to the absorption of European structural funds, Razvan Cotovelea, director with Economy and Finance Ministry, said Thursday.
Romania’s 2015 GDP Seen 15-20% Above Prognosis On EU Funds Absorption - Fin Min Director
30 oct. 2008, 14:00, English

"One of our objectives was a GDP increase above the one planned by the authorities for 2015, as the structural funds granted for 2007-2013 would have been already implemented,” Cotovelea said.

For the end of 2015, the National Prognosis Commission, or CNP, sees a GDP of 987 billion lei (EUR1=RON3.6262). For the end of 2008, CNP sees GDP at RON505 billion.

Cotovelea said that in 2010 and 2011, Romania would carry out, with European funds, the most infrastructure projects in the modern history of Romania.

"We have major projects planned, and if everybody will be focused, we will manage to administer these funds," Cotovelea said.

The structural and cohesion funds allocated by the European Union for Romania between 2007 and 2013 total EUR19.7 billion.