Estonian EU fund absorption problems

Prime Minister Andrus Ansip said today that problems may arise in regards to projects using EU support in the previous finance period.

Ansip named projects such as the 43 million kroon (EUR 2.75 mln) labor market measures plan, the EmajogiRiver catchment basin water management project worth 700 million kroons, the construction of a breakwater in the port ofTallinnfor 371 million kroons, and the Kukruse road construction project budgeted at 590 million kroons. In his words, it is not fully certain at this point that Estonia will manage to implement those projects and use up the EU funds.

Absorption of EU support is particularly important in the present economic cooling situation where utilization of EU monies would support the economy and by bringing extra taxes into the state budget. Estonia has until the end of 2010 to distribute the EU support of the previous financing period.

Ansip at the same time pointed out that the overall situation with the absorption of EU funds is good: the state has used 80 percent of the allocated money. Estonia can use European aid in the sum of more than 50 billion kroons in 2007-2013.

Source http://baltictimes.com/news/articles/20275/

Add comment:

Subject:
Name:  
email:
Code: 

Remark:

Email not will be shown.

Tags forbidden.