Romania to come up with second economic package after Covid-19 epidemic peak

Romania’s Government will come up with a second package of measures to stimulate the economy after the coronavirus (COVID-19) peak passes, economy minister Virgil Popescu announced on Tuesday, April 7, according to Hotnews.ro.

The first package was aimed at supporting households, since a healthy workforce is indispensable for the proper functioning of an economy, while the second package will be targeted at supporting the corporate sector. The package will include fiscal measures, capital infusion and grants - not necessarily loans, minister Popescu said.

The public investments are also important for economic recovery therefore the planned investments will not be trimmed down - even if this will result in a wider budget deficit.

Finance minister Florin Citu assured that financing the budget deficit will not be a problem, according to the economy minister.

“We are aware that the budget deficit will be very high. The Stability Pact has been suspended and I do not think that, at present, any country in the European Union is thinking about the budget deficit. The problem could be finding financing but, from the discussions we have with the minister of finance, [I have concluded that] we have no financing problems,” minister Popescu said.

(Photo source: Facebook/Virgil Popescu)