Last week, Romania’s minister-delegate for small and medium-sized businesses Maria Grapini announced several changes to the de minimis state aid scheme for SMEs.
The draft decision targets, among others, to reduce the upper ceiling to EUR100,000, from EUR200,000 (the equivalent in lei), and stipulates the aid will be granted over a period of two consecutive fiscal years, compared to a three-year period currently.
Also, firms will no longer have to employ a certain number of people depending on the amount they receive. Currently, firms are obliged to create five new jobs for aid of up to EUR100,000 or seven new jobs for aid ranging between EUR100,000 and EUR200,000) and keep them for at least three years.
According to the draft decision, financing will no longer be granted from the Finance Ministry’s budget, but from the budget of the Department for SMEs, Business Environment and Tourism.
Authorities estimate 1,111 SMEs will benefit from the de minimis aid.
Romania’s Government recently approved a decision raising the budget of a de minimis state aid scheme targeting small and medium-sized businesses (SMEs) from 400 million lei (EUR89.8 million) to RON500 million. The aid, available to SMEs that make investments and create new jobs, will be disbursed until the end of 2015 instead of the previously set term of 2016.