Romania's Bold Economic Plan: Incentives and Supports Unveiled

Romania's coalition government has announced a series of economic support measures, including state aid and tax exemptions, projected to amount to 4 billion euros by 2032. These initiatives aim to attract investments, support the defense industry, and boost economic growth, pending approval from the European Union.

Romania's coalition government is set to roll out a comprehensive economic support package designed to bolster investment and growth, impacting approximately 4 billion euros through 2032, according to Finance Minister Alexandru Nazare.

Since taking office, the coalition has implemented austere fiscal measures including tax hikes and frozen public wages, which reduced the budget deficit significantly but also slowed economic growth, sparking opposition support and union backlash.

The proposed schemes seek European Union approval and aim to facilitate large investments and advance local industries such as defense, raw materials, and technology, alongside market incentives to list shares on the Bucharest Stock Exchange.

(With inputs from agencies.)