European funds absorption, "extremely low"

Romania's accession to the Schengen area of free movement and the absorption of the Community funds were the main themes of the discussions that the Prime Minister Mihai Razvan Ungureanu has had on Thursday, in Brussels, with the European officials.

After meeting with the European Council President , Herman Van Rompuy, the Chief Executive from Bucharest had discussions with the European Commission President, José Manuel Barroso, who welcomed the efforts of the Romanian authorities in terms of economic reforms.

The poor use of the European money has been on the agenda of their discussions.

“The current absorption rate of 7.4% is extremely low. I welcome the Prime Minister Ungureanu’s commitment for tackling this problem. This priority concerns not only Romania, but also the European Commission ", said José Manuel Barroso.

“In turn, the Prime Minister Mihai Razvan Ungureanu has insisted on the need for sustainable economic recovery in the Union, which is required a single functional market, and this includes principles as well as freedom of movement of labour.

“I reviewed the measures to strengthen the fiscal discipline and competitiveness in the European Union and, partly, the modalities of their implementation, precisely because it reminded of the Romanian efforts to participate in this process and the fact that we have assigned to Euro Pact Plus and to the signing of the Fiscal Treaty, this thing is for us an activity of debt, especially in the light of our accession to the Euro area.

“We have a commitment, that of acting with diligence in the following period in order to improve significantly the rate of absorption of the Community funds. There is money which costs little when you have it and it costs a lot when you lost it and are practically, the funds on the basis of which it can substantiate our economic growth on a short term, on a medium term”, Mihai Razvan Ungureanu said.

Translated by Anamaria Petrache
MTTLC, Bucharest University