The Development Ministry announced that Greece has achieved one of the highest rates of European Union subsidy absorption in 2014, as it managed to avoid losing out on any contributions from Brussels from any funding programme.

The country invested €3.64 billion in EU funds last year to take its absorption rate from the 2007-13 funding period (extended to two additional years) to 87.97%. In total, the country has absorbed €19.48 billion from the 2007-13 funds. Therefore Greece has met both the target set for the previous funding period and that for 2014-20.

The ministry also announced the successful completion of the Public Investments Programme for 2014, with the channeling of €6.6 billion into the economy and society, thereby helping the country switch from recession to growth in the year that has just ended.

Greek News Agenda: Greece Exceeds EU Funds Absorption and EU Funds Absorption Rate: Greece Beats Targets