STRUCTURAL FUNDS AND OVERCOMING THE ECONOMIC
                       CRISIS
          Emilian M. Dobrescu, Romanian Academy and Spiru Haret University
                   Cristina Barna, Spiru Haret University Bucharest

ABSTRACT: The European Commission is the authority that supervises the European
Union structural funds, which are meant to finance the measures of structural aid at the
community level, aiming to promote the regions lagging behind in development, to
reconvert the areas affected by industrial decline, to fight against the long-term
unemployment, to help the youth professional insertion or to promote the rural
development. Besides the Structural Funds, other financial instruments are in use,
namely the Cohesion Fund. Between 2007 and 2013, Romania will benefit from
structural funds in the amount of 32 billion Euros, granted by the European Union. Such
funds need to be effectively managed and they have to reach where development is an
imperative; otherwise, they are in danger of being forfeited. The paper herein aims to
give a general presentation of the structural funds, a highlight of the dissimilarities
between them and the pre-accession funds, the explanation of the criteria for granting the
structural funds, as well as an in-depth analysis of the National Strategic Reference
Framework 2007-2013. At the same time, beyond the absorption obstacles
(documentation, evaluation, bank credits), the structural and the cohesion funds are
presented as solution to overcome the current economic crisis.

Key words: structural funds, operational program, cohesion policy, economic crisis

JEL codes: F15, F36, F39