The funds attracted last month are equivalent of 90% of the overall EU fund absorption in the first quarter. The target for the first quarter was EUR800 million, but the authorities refunded four times lower amounts.
“Meeting the target proposed by the Government is a long way away. I don’t think anyone still has high hopes over the evolution of absorption. It was clear from the very start that the targets were very difficult to achieve,” explains Cosmin Dragoi, managing partner of EU fund consultancy M27 CED Invest.
Although it is better than the results of the first three months of the year, absorption in April is EUR100 million lower than the monthly target that would allow the year’s target of EUR3 billion to be met, which this year’s budget has been built on.
Overall, at the end of last month refunds for EU-financed projects reached EUR1.43 billion, i.e. 7.4% of the total funds made available by the EU between 2007 and 2013.
(English version by Daniela Stoican)