Relationship between Structural Funds and Economic Indicators of the European Union

Economic and social cohesion is one of the economic objectives of the European Union's (EU). Therefore it is important to analyse the impact of the European Union"s policies on the cohesion. The establishment of the common market itself did not offer a solution for the economic problems faced by the member states. The EU structural funds should seek to promote equality between the levels of development and employment. Economic and social cohesion is very important to strengthen political and economic development of EU Member States. The cohesion policy provides the possibility to finance the various activities in order to promote economic growth in the EU Member States and their regions. The convergence, the regional competitiveness and the employment and the European territorial cooperation are three main objectives of the current EU cohesion. The cohesion policy can be an effective tool to achieve the economic convergence. The EU investments are intended to create the sustainable high-quality jobs in order to combat the unemployment and boost the growth by supporting innovation, the low-carbon economy as well as the education and training in both cities and rural areas. In summary, the funds should lead to economic growth. This article includes the analysis of impact of structural support on the economic growth of the EU and optimization of distribution. The research methods used in the article include literature and statistical data analysis, correlation analysis. The analysis showed that correlation between main economic indicators and the funds is not significant and it can show the insufficient use of the support. [web URL: http://www.inzeko.ktu.lt/index.php/EE/article/view/8831]