Ooni Koda
  1. Home
  2. /
  3. Newsfeed
  4. /
  5. Investment Minister: 10 billion euros, the lowest absorbtion...

Investment Minister: 10 billion euros, the lowest absorbtion target of European funds in 2024

December 6, 2023

The lowest absorbtion target of European funds for 2024 is 10 billion euros, a target found in the state budget, which means the budget of the Investment and European Projects Ministry (MIPE), said minister Adrian Caciu at a press conference.   “We have already made appeals for the 2021-2027 exercise. 18 billion euros have already been launched. Until the end of the year we will launf up to 21 billion euros. These appeals will produce expenses and financing in 2024. In the first half of the year 2024, we will launch appeals of up to 49 billion euros, which will also start producing European expenses and financing in the second part of the year. In other words, 10 billion euros are the lowest absorbtion target for 2024, a target which will be found in the state budget, which means the MIPE budget. It is a target which represents maintaining an average introduced as of 2022,”Caciu said at the conference “Romania's budget and financing in 2024: what should economy expect?” organized by Ruling Course.   The Investment minister pointed out that Romania's absorbtion average was 4.5-5 billion euros following accession, while in 2022 the average was over 10 billion euros per year.   “We cautiously propose 10 billion euros in 2024, without adding money from the National Recovery and Resilience Plan (PNRR) , which is now a sort of buffer for Romania. That is how PNRR was built, at first we get more money to be used while investments are in execution not implementation. Out of 9.1 billions Romania has at its disposal, my estimate is that 4-4.5 billions will be used in 2024. Obviously, besides that we will receive the money for payment request number three and we will make efforts to have request number four until the end of the year,”said Adrian Caciu.   According to him, besides PNRR there will also be REPowerEU plan, where financing of 1,4 billion euros was introduced.   “According to REPowerEU mechanisms, in 2024, at least 40% of this amount should be used. Here we have two important measures for the people, referring to the energy sufficiency of households and photovoltaic panneld and batteries.We will have dual measures. We discussed at government level too about the new outlook on renewable energy,” the minister added.   He mentioned that Romania had invested a lot and consumers invested only in pannels.   “We do not have storage capacities and the state must come up with a series of programs in which, when you set up photovoltaic pannels you should also have your own storage capacity and not becoem somewhat aggressive towards the market, in case you have extra production, but to be able to store and use your own production,” Caciu added.  

Read in full - click here
Powerful storm hits Sinaia mountain town in Romania, causing injuries and widespread damage

A violent storm with extremely strong winds struck the popular mountain town of Sinaia, Prahova Valley, on July 9, causing significant damage, injuring at least 16 people, and disrupting transport and local infrastructure. Historical sites in the city have also been affected. Authorities had issued a message via the RO-Alert system ahead of the storm, warning […]

Lawyer of Romanian far-right figure Călin Georgescu reportedly investigated for sexual assault of a minor

Bogdan Mircea Petre, one of the lawyers who represented far-right politician Călin Georgescu, is allegedly involved in a case of sexual assault after he was caught in the act during a meeting with a minor, according to Digi24. The “sting operation” was organized by Alex Costandachi, known in the public space as Justițiarul...

Majority of Romanian CFOs say they now need constantly updated financial forecasts

Roughly 8 out of 10 chief financial officers, or CFOs, from Romania’s largest companies say they now need constantly updated financial forecasts, unlike previous years when the focus was primarily on financial results, budgeting, and accounting, according to Inulta, a company specializing in Corporate and Enterprise Performance Management. The forecasts come to offer a degree […]

Romanian authorities seize assets of mercenary Horațiu Potra in tax evasion case

Romanian prosecutors have placed a precautionary seizure on the accounts and assets of the mercenary Horațiu Potra, in a case of tax evasion, embezzlement, and money laundering. The measure targets over RON 24 million, nearly 30 kilograms of gold, a property in Bucharest, and 11 properties and apartments in Sibiu.  According to investigators cited by […]

Romanian car brand Dacia makes impressive entry in European SUV market with Bigster model

The first sales figures from two of the largest European markets, France and Germany, both major markets for the Dacia brand, show that the debut of the carmaker's largest SUV, the Bigster, has been impressive.  June data on car registrations in Germany show that the Dacia Bigster managed to sell 1,227 units in its second […]

MerchantPro Compass H1 2025: eCommerce holds steady under pressure, with +2% growth and a shift toward efficiency

After a 2024 marked by adaptation and consolidation, Romanian eCommerce entered 2025 with a more restrained dynamic. According to MerchantPro Compass, the biannual analysis conducted by MerchantPro, a SaaS eCommerce platform supporting over 2,000 active online stores—the first half of this year confirms a paradigm shift: it’s no longer about how much you sell, but […]