Romania’s EU Fund Absorption This Yr Unlikely To Exceed 2009 Level - Ctrl Bker

Romania’s European fund absorption in 2010 will be lower than the level registered last year, only exceeding it in agriculture, central bank governor Mugur Isarescu said Tuesday.

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Isarescu said at a seminar on EU funds that, in the first nine months of the year, Romania's EU fund absorption was less than 70% of the level registered in 2009. He said the agriculture and forestry sector is the only field with better absorption than last year.

In the fishing sector the fund absorption is zero this year, highlighted the governor.

Structural and cohesion fund absorption was less than 50% in the first nine months of 2010, compared to the level registered last year, said Isarescu.

The governor said companies, the central bank, the Government and the Presidency are interested in attracting EU funds, and added that the low absorption level is caused by "poor knowledge, lack of interest and negligence".

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