Lithuania ahead of other EU Member States in absorption of the EU structural funds
Posted by editor on 10/09/09 • Categorized as Finance • 
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Lithuania is leading in the EU in terms of structural funds absorption, the European Commission announced.
The Prime Minister Kubilius said in a press release ‘Monetary resources of the EU funds are a significant support for the country’s business and the whole economy during the period of economic slowdown, which is accompanied by a decline in budget revenues. The EU funds are the source of financing, which we should use as intensively as possible now’.
The Prime Ministers office reported that a total of 538.39 million euros (1.857 bln Litas), or 7.9 percent of the amount allocated from the Structural Funds for 2007-2013.
According to the EC report Ireland ranks the second in terms of structural funds absorption (6.1 percent), followed by Estonia (4.8 percent). Germany is forth (3.9 percent). Latvia’s rate is 3.3 percent.
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