70 percent of CEOs: EU funds, hard to access

Almost 70% of CEOs and financial managers of Romnia deem that the European funds are hard to access, shows a report made by the audit and consulting g company Deloitte Romania, cited by Ziarul Financiar.

The company had this year by 35 percent more customers who wanted consulting to access European funds, said Radu Kubinschi, manager with the department specialized in the accession of structural funds.

‘Projects are numerous, but have lower values than one year ago. Because of the economic crisis, many companies re-directed towards maintaining employees and reorganising company and the trend is also mirrored in the destination of the structural funds for this year: 90% for human resources projects, the remainder being shared between projects for small and medium-sized enterprises and cross-border cooperation. For instance last year 80 percent of last year’s financing projects which focused on investments in equipment,’ said Deloitte manager.

The report shows that only 15.4 percent of CEOs expect enhancement of the companies’ financial perspectives for the next six months. At the same time, over 38% of the interviewed managers said Romania’s economic situation would improve.

‘Romanian companies continue their business growth strategy, however paying more attention to costs. On the other hand, however, business people estimate regulations will become stricter next year and warn against the difficult accession of European funds,’ said George Mucibabic i, president of Deloitte Romania.

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