The absorption of UE funds in the current context of the cohesion policy

Romania continues to be affected by the global recession. It has suffered a significant reduction in foreign investment since the start of the recession, as investors have moved away from emerging markets in search for security. Developing an appropriate, focused strategy for the allocation of EU funds is only the first, though perhaps the most important step in implementing the EU cohesion policy. The successful implementation of EU co-funded projects is contingent not only upon the effectiveness of these countries’ administrative systems, but also on the activity of the potential beneficiaries.