Economic Recovery Measures Proposed by the Government Reach Public Debate

The first economic recovery package prepared by the government was presented today by the Minister of Finance, Alexandru Nazare.

It contains support measures for companies, but also new concepts and methods of financing. The main objective pursued this year is shifting the focus from an economy based on consumption to one based on massive investments.

The economic recovery package grants greater importance to the Investment and Development Bank, which will manage the support schemes for companies, especially those operating in important sectors of the Romanian economy.

Another novelty is the introduction of a 10% tax credit for companies in the research and development area.

The Minister of Finance, Alexandru Nazare, specified that the measures in this package will focus on important sectors of the Romanian economy, such as the capitalization of minerals and new technologies.

"We have taken note of the list of critical materials, as it was approved by the European Commission, and we will support through this instrument the area of capitalizing on mineral resources and, also, the area of new technologies. We are talking here about artificial intelligence, semiconductors, robotics, the scaling of companies to move from accelerators to the market, so they can be scaled and Romanian companies can have an instrument they can use in this area", explained Alexandru Nazare.

For the national defense industry, a financing instrument of 200 million euros will be introduced. Also, another new financing instrument will be dedicated to Romanians in the diaspora who want to invest in the country.

They will have at their disposal 100 million euros to do this.

The normative act was presented in the government session and will be published on the Ministry of Finance website for public debate.

Translated by: Radu Matei