Erste: the European funds destined to Romania could drop significantly with an impact of 1.2% of  GDP

The budget draft for the interval 2021- 2027 presented by the European Commission (EC) this month,could mean a significant reduction of the European Funds destined to the states in Eastern Europe in the case of Romania the impact could be 1.2% of the GDP, according to an analysis published on Friday by the Austrian financial group Erste.

The European commissionaire Gunther Oettinger showed a possible reduction by 5%  of the European funds destined to agriculture and 7% of the funds for regional development and cohesion.

Such a reduction could mean, on the basis  of the present division of the budget a drop in the sums as percentage of GDP of 0.3% for Slovenia, 0.5% for the Czech Republic and Croatia, 0.8% for Hungary and 1.2% for Romania, according to the estimates published by Erste.

As a total, the funds destined to Central and Eastern Europe (ECE) could drop by 14-34% according  to Erste. At present,almost 40% of the European Funds are  destined to the ECE area

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