EU Regional and Cohesion Policy. Analysis 2007-2013 vs. 2014-2020

The EU cohesion policy aims at reducing disparities between EU regions, knowing that there are major development levels among all member states. Through the financial instruments of the regional policy, certain incentives are sustained in order to generate economic growth, competitiveness, job creation, all of them having the same goal, namely to increase the life standards of EU citizens. The actual stage of research underlines that regional solutions should be implemented for regional problems and therefore nowadays it is considered necessary to build a model of regional development. The regional development policy is financed from the EU budget, in that regard the article tries to make an analysis on the financial allocations between the current financial perspective 2007-2013 and the new financial framework 2014-2020. Due to budgetary constraints the total amount allocated for the next 7 years is situated beneath the financial allocations for 2007-2013 for the first time.