Analele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie (Dec 2015)

THE INFLUENCE OF COMMUNITY FINANCIAL INSTRUMENTS ON THE ECONOMIC GROWTH

  • ANCA SIMINA POPESCU

Journal volume & issue
Vol. 1, no. Special Issue ECO-TREND 2015
pp. 476 – 483

Abstract

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The absorption of structural and cohesion funds for the period 2007-2013 was relatively low, several reasons were identified by the European Union and the European Commission and had several gaps in legislative terms and in terms of management. Financial and economic crisis that started in 2008, dramatically altered the socio-economic context for cohesion policy programs. The economic downturn also triggered a sharp deterioration in the business climate and consumer confidence, investment (gross fixed capital formation) decreased from 21% of GDP in 2008 to 18% in 2012, exports of goods and services and investment direct foreign having the same negative trend. Absorption capacity non-reimbursable financial resources is a variable with a direct and very strong link in ensuring economic and social cohesition with resources available from European funds.

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