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Romanian government announces new state aid schemes

Cristina Popescu
Cristina Popescu

The Romanian Prime Minister recently announced a new state aid scheme for stimulating investments of over EUR 1 million with a significant impact on the national economy. The total state aid scheme is reported to have a budget of EUR 200 million.

The government also announced a state support scheme for small and medium sized enterprises (SMEs) facing difficulties during the current crisis in eastern Europe. This scheme, expected to kick off on 1 June, will draw from a budget of EUR 300 million, which will be directed to SMEs to compensate distributors and transports for the sharp increase in fuel prices and to support the agricultural and food industry.

In the agricultural industry, the Prime Minister emphasised the need for implementation of new technology to capitalise on the country’s full agricultural potential, particularly in light of the shortage of certain agricultural products caused by the conflict in Ukraine.

Cristina Popescu, Senior Counsel and Head of CEE Insurance Practice Group CMS Cameron McKenna Nabarro Olswang LLP SCP

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