Romania has 90 pct absorption rate of European funds for 2014-2020 financial year (PM Ciolacu)

Prime Minister Marcel Ciolacu met on Tuesday at the Victoria Palace of Government with the European Commissioner for Cohesion and Reforms, Elisa Ferreira.

"Romania has a 90 percent absorption rate of European funds for the 2014-2020 financial year, ranking 4th in the EU," Ciolacu wrote on Facebook after the meeting.

He added that this "historic first" was welcomed in Bucharest by European Commissioner Elisa Ferreira.

"The commissioner encouraged us to continue developing administrative capacities and to think further about economic specialization programs and increasingly sophisticated technologies, in order to move from the infrastructure development stage to that of an economy producing goods with high added value," Ciolacu further wrote