European Funds – The Engine of Romanian Economic Development

Abstract

The paper aims to analyze the role of European funds in the economic development process of Romania, following its accession to the European Union in 2007. Access to these funds was an essential factor in supporting the modernization of infrastructure, improving living conditions and stimulating economic growth. The study explores how Romania has capitalized on European financial resources to implement infrastructure, education, health and innovation projects, and how these have contributed to the consolidation of the national economy. In addition, the positive impact of structural funds on job creation and the reduction of regional disparities is analyzed. The paper demonstrates that European funds have played a determining role in Romania's economic development, contributing significantly to its evolution internationally. Once again, the paper highlights the challenges encountered in the process of absorbing European funds, as well as the lessons learned, which can serve as a basis for creating future strategies for the efficient use of available resources. CZU: [339.923:061.1EU]:330.34(498); JEL: Q5