Current State of the Absorption of EU Funds during the 2014-2020 Multiannual Financial Framework of the European Union in Slovakia

Tomáš Kajánek


The European Union´s budget and the Multiannual Financial Framework are the EU´s main instruments for financing European policies. Currently, we witness a low intensity of absorption of the financial resources allocated under these instruments in selected Member States through the broad variety of operational programmes that vary from one Member State to another. In the past years, such trend has also de-veloped itself in the Slovak Republic. In the middle of 2020, the Slovak Republic is one of the worst drawers of EU funds. The first part of the paper provides a brief de-scription of the functioning of these financial instruments, an analysis of the absorp-tion of the financial resources of European structural and investment funds in Slo-vakia during the past multiannual frameworks and a brief literature review. The oth-er part of the paper presents the current possibilities of drawing financial resources according to the new drawing rules introduced due to the outbreak of the current global pandemic of SARS-CoV-2 and identify some of the causes that, to a greater or lesser extent, contributed to low absorption level of EU funds in Slovakia. The paper contains two graphs and one table with data depicting EU funding and individual op-erational programmes in Slovakia.

Key words: EU budget, Multiannual Financial Framework, European Union, Structural and In-vestment Funds, Operational Programmes

JEL Classification: F15, F36, H72

Received: 2.3.2021   Accepted: 21.3.2021

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