President Traian Basescu said on Thursday that the European funds represent an essential element of economic growth, as they can significantly contribute to ensuring Romania’s macroeconomic stability.

“Our belief is that the solution for a stronger, more cohesive Union also involves promoting the so-called traditional policies, specifically the Common Agricultural Policy and the Cohesion Policy, which produced visible results as regards economic convergence, territorial development and job creation.

Therefore, I see it as an important element that the logic of austerity and discipline under which we operate does not reduce the development potential offered by this lever by a significant reduction of the budget quantum or an unreasonable distribution among European policies. European funds remain an essential element of economic growth and can significantly contribute to ensuring Romania’s macroeconomic stability, as their multiplier effect in economy is undeniable,” said Basescu.

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