Romania had the highest 2008 absorption rate of all 12 new EU member states

“Romania has the highest absorption rate of all twelve new members of the European Union, considering that €320 million in European funds entered Romania in 2008, as part of the ISPA program,” said Teodorovici. He added that Romania has a 50 percent absorption degree of a total of €2 billion contracted for 388 projects on road and railway infrastructure and environmental projects.

Radu Limpede, Partner of the Initial Advisory European fund consultancy company, told Business Standard that the pre-accession fund absorption rate is a good one, but not spectacular. He mentioned that most money was spent within the Special Accession Program for Agriculture and Rural Development (SAPARD). Limpede added that the absorption rate of EU funds is 95 percent within the SAPARD program and 85 percent in the Pologne et Hongrie - Aide á Restructuration Economique (PHARE) program. “It is most likely to have maximum absorption by 2010 if this pace continues in the coming two years,” said Limpede.

Dragos Pislaru, General Manager of the GEA Strategy & Consulting, said that 2009 will be a key year for fund absorption, while 2008 was important only in terms of filing projects. “Romania can contract all EU funds by 2011, and will spend these until 2013-2015,” he added.