In the absence of massive investments in infrastructure, theRomanian economy will not see "a sound recovery," with the onlynatural way to emerge from the crisis being to attract structuralfunds, believes Mathias Kollatz-Ahnen, vice-president of theEuropean Investment Bank (EIB).
The EIB official believes that particularly because Romania hassigned a financing agreement with the International Monetary Fund(IMF), according to which the budget deficit cannot exceed 5.9% ofthe Gross Domestic Product, co-financing of structural fundprojects needs to be a priority for the Romanian Government.
"In order to maximise the effects of the investments made underthe umbrella of the IMF agreement, the government needs toco-finance European-funded projects. The budget does not allow formajor investments, but the Romanian authorities need to find themeans to cover the 30 or 15% co-financing required from them. If acountry like Romania has access to structural funds, then this is anatural anti-crisis set of measures," Kollatz-Ahnen explains.
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