Romanian finance minister outlines EUR 4 bln recovery package with horizon to 2032

Romania's finance minister Alexandru Nazare on February 5 announced that the government has sketched, after consultations with the business community, the main elements of the economic recovery package that will include fiscal allowances, friendlier regime for SMEs, and stronger support for large investment projects but also active measures in the form of new, better targeted support schemes with implementation timelines of 5 to 7 years.

"This plan has a fiscal component, fiscal measures, and a component of repositioning support schemes for companies. We are shifting the focus from consumption to investments. We are shifting the focus from volume projects to strategic projects in areas where Romania has important interests. New instruments will be developed, so that Romania increases its level of competitiveness and its chances of attracting foreign investments and developing large Romanian investments," said Alexandru Nazare during a press conference.