Financial and risk expert: Romania should “save” its consumers not companies to save the economy

While the business environment in Romania is asking the state for a massive economic stimulus package worth about EUR 30 billion to save the local economy from recession amid the Covid-19 crisis, a financial and risk expert has a different take. Rather than finance companies, the state should direct its resources to help consumers, says Dimitrios Goranitis, Risk and Regulatory Advisory Partner at Deloitte Romania.

“The backbone of the Romanian economy is, correctly or not, the consumption momentum and the priority of anyone who would like to avoid a steep recession or recover from it would be to subsidize the strong consumption behavior until the system normalizes again,” Dimitrios Goranitis concludes in a personal opinion piece.