Absorption of the structural funds by the local administration of Bucharest

During the first three years since joining the European Union, Romania has absorbed only 600 million Euros of the 5.6 billion Euros available, that is approximately 10% of the available European funds. During the 2007-2013 period, Romania disposed of a total amount of 19.8 billion Euros, but by the end of 2012, there were absorbed only 2.2 billion Euros, namely 12.2% of the total. During the 2014-2020 programming period, Romania will benefit from about 40 billion Euros, out of which 22 billion Euros represent structural funds, 8 bn. Euros are funds allocated for rural development, while the rest are subsidies for agriculture. This paper presents the results of an empirical research through which we have sought to learn more about the positive influence of structural funds absorption upon local development and the quality of life in Bucharest. In order to achieve our goal, we approached the final beneficiaries, namely the inhabitants of different sectors of Bucharest. The research results represent a concise radiography of how these financial instruments were used by local authorities for development and the causes that determined differentiated absorption rates in the districts of Bucharest.