The minister pointed out that the absorption rate must however be considered in terms of its three components – cohesion funds, direct payments and financing for rural development. Romania’s major challenge is increasing its absorption of structural and cohesion funds, from the current rate of 7.4%, he explained.
In the case of direct payments for agriculture, Romania’s absorption rate stood at 95%, while absorption of rural development funds exceeds 30%.
Orban said the plan for this year is for Romania to attract more than three times more than in the first five years after accession, meaning at least EUR6 billion, including EUR2.5 billion for agriculture and EUR3.5 billion for the cohesion objective.
Between January 2007 and September 2011, Romania attracted EUR1.2 billion, while Poland absorbed around EUR18 billion in a similar period, the minister said.