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Romanian Commercial Bank report: EU fund absorption will increase to 60% this year

de A.C.
Luni, 7 iulie 2008, 22:14 English | Business

Romania's EU funds absorption could exceed 60% this year as compared to 21% in 2007 due to the attractiveness of funding from the European Union, a Romanian Commercial Bank (BCR) report shows. The document shows that private investors and local authorities were attracted towards EU funds. Thus, experts estimate that these funds might generate an "additional economic growth of 15-20%" in 2007-2013. 

BCR experts declare that Romania's national currency will be stable if EU funds will continue to be accessed. Among potential negative effects is that in the upcoming years, the Romanian industry might lose its competitiveness due to the accelerated pace to reach the European standards in terms of salary levels.

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