ECONOMY

Greece raises CSF absorption rate

Greece absorbed some 2.56 billion euros from the European Union’s Community Support Framework (CSF) program in the second half of 2012, the country’s Development Minister Costis Hatzidakis said Wednesday.

The figure was above the aim of 2.5 billion euros, the minister said, hailing the government’s efforts to increase the European structural funds’ absorption rate which rose at 88.9 percent over the same period.

Contracts have already been signed for 82 percent of the projects set to be funded by the CSF program, Hatzidakis said.