Romania’s Govt Spent 45% Of ’09 Invest Funds By End-Jun – PM

Romania’s Government has spent EUR4 billion for investment projects until the end of July, representing 45% of the total amount assigned for investments in 2009, while the local authorities have used only 15-17% of the funds, Prime Minister Emil Boc said Friday.

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The Government announced it plans to use this year the equivalent of 20% of the gross domestic product for investment projects.

Boc said the local authorities that are not able to spend the funds assigned for investments will no longer receive the money.

If the local authorities organize in due time bids for investment projects or thermal rehabilitation will be able to benefit from the money granted from the state budget, he added.

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