Romania’s Government prepares EUR 750 mln “package for SMEs”

Romania’s Government is sketching a EUR 750 mln “direct aid” package for small and medium enterprises (SMEs), minister of economy Virgil Popescu announced on Monday, April 13.

He added that European funds minister Marcel Bolos is discussing this in Brussels.

Although not specified by minister Popescu, this “package” will be financed from the national budget.

Romania could then recover the money from the European Union budget as part of a broader, Union-level agreement.

“I have been talking to the prime minister, the minister of European funds, and the minister of finance to prepare this package to help small and medium-sized enterprises,” minister Popescu stated, quoted by Agerpres.

The measures will be designed not only to compensate for the losses incurred by SMEs but also to revive the economy and in the shortest time “to get to where we were at the beginning of the crisis.”

“We must try to derive benefits from this pandemic. I believe that many industries outside Europe will be relocated to the European area,” minister Popescu also said.

He estimates that Romania’s economy “plunged by some 30%-40%,” without explaining whether this refers to a specific month or quarter.

(Photo: Virgil Popescu Facebook Page)