Greece says EU funds absorption rates sharply up in H1

Greece says EU funds absorption rates sharply up in H1

 



 

ANA-MPA -- The Greek government has surpassed its target of absorbing EU funds for the second consecutive six-month period in the first half of 2013, with absorption rates of EU funds rising to 169.36 pct of a target set by the memorandum, Costis Hatzidakis, Development Minister said on Wednesday.

 

Speaking to reporters, during a news conference, Hatzidakis said absorption of EU funds totalled 2.174 billion euros in the first six months of the year, up from a budget target of 1.284 billion euros, including a sum of 811 million euros earmarked for national road projects.

 

Greece ranks fourth among the EU-27 member-states on the absorption rate of community funds, significantly improving its position from last year (it ranked between 18 and 20).

 

Hatzidakis said that excluding national road projects, the sum absorbed totalled 106.09 pct of the first half target, after a 102.64 pct performance in the second half of 2012.

 

The Greek performance is way up compared with the community average of 53.03 (rising to 67.5 pct from 56.7 pct in 2012).

 

He expressed his confidence that the country will cover the target of 3.89 billion euros set for 2013 and noted that management of community funds will be based on two axes from now on: The first, revising programs when and where necessary, the second, planning a new innovative programme for the period 2014-2020.

 

(Athens News Agency, 3 July 2013)