Annals of the University of Oradea: Economic Science (Jul 2020)
COMPARATIVE ANALYSIS OF INVESTMENTS MADE IN ROMANIA FROM EUROPEAN FUNDS BETWEEN 2007 - 2013 AND 2014 – 2020
Abstract
One of the main topics of debate in the specialized literature is the analysis of the efficiency of public and private investments and the impact of investments related to economic development, especially at the level of the European Union. The research methodology used in this paper involves data analysis, observation, modeling and interpretation of sensitivity analysis results. I will present the performance of the operational programs in Romania from the two 7-year multiannual budgeting periods of the European Union, 2007 - 2013 and 2014 - 2020. The purpose of this paper is represented by the analysis of investments made through European funds in Romania as well as the way in which the efficiency of these investments can be increased so that European money can lead to an increase in the quality of life in our country. In this paper I want to contribute to the development of literature by analyzing the limits of the use of European funds in Romania in the field of infrastructure and in a future paper I want to extend this analysis to other countries in the European Union. The absorption rate in the period 2007 - 2013 at the level of Romania was about 90%, Romania losing about 2 billion euro, enough money to achieve 400 kilometers of the highway at an average cost of 5 million euros per kilometer. From my point of view, the money received from the European Union has changed Romania for the last 14 years since the accession of 2007. Regarding the financial allocation for the period 2014 - 2020, there is a 72% increase for the Regional Operational Programme, so that for the regional development the beneficiaries have available 6.86 billion euros compared with 3.96 billion euros as they were allocated per funding periods 2007 - 2013. The North East Region, which is one of the least developed region in the European Union, has a lower allocation than the West Region, one of the most developed regions in Romania. This aspect is paradoxical and does not support the balanced territorial development and the reduction of the gaps between the regions.
