Estonia, Latvia and Lithuania are still the most successful users of European Union structural funds in Central and Eastern Europe and the rate of paid out subsidies is the highest in Estonia and Lithuania, where 59 percent of support projects are covered by contracts, an analysis by the Central and Eastern Europe unit of KPMG shows.
«For several years in a row the Baltic countries have shown themselves as successful users of EU grants. Although Bulgaria is the most successful in the field of entering contracts where grant sums have been fully covered by contracts, Baltic countries are at the top of the chart of subsidies paid out,» head of advisory services at KPMG Baltics Karin Ratsep said.
In Latvia the percentage of subsidies covered is 94 percent, and in Estonia and Lithuania 91 percent. The average indicator in the region is 83 percent.
The rate of subsidies paid out is the highest in Estonia and Lithuania at 59 percent, followed by the Czech Republic and Latvia with respectively 57 percent and 56 percent. The average indicator in Central and Eastern Europe is 44 percent.
According to Ivar Sikk, deputy secretary general of fiscal policy at the Ministry of Finance, Estonia has been in many ways successful in using EU subsidies and leaders of the projects deserve recognition.