The government said its goal was to stimulate and develop local capital and competitiveness of Romanian companies, invest in strategic public infrastructure, digitize the economy and the tax administration and transition towards a sustainable economy that is not solely reliant on consumption.
The government said it targets a gross domestic product per capita expressed in purchasing power standards of 87% of the EU average by 2025. Romania’s GDP per capita stood at 69% of the EU average at the end of 2019.
The economic relaunch plan includes a set of grants to companies. The government expects to grant a total of EUR100 million to 50.000 micro-enterprises with no employees, subsidize rent for trade and services companies affected by pandemic restrictions.
It also proposes a EUR350 million grant scheme to helps SMEs in highly affected industries restart their businesses.
The government proposes the set-up of a sovereign investment fund with an initial capital of EUR300 million and the set-up of a National Development Bank to finance investments.
The government plans to continue paying furlough, which would cost the state budget RON850 million a month, continue covering 41.5% of the gross wages for three months for employees returning from furlough, and seeks to help companies implement flexible work schedules by covering 75% of the salary difference for employees forced to work fewer hours.