Romanian Govt, Central Bank To Discuss Economic Relaunch Measures Next Monday

He said measures in question, which have not been fully established yet, include ideas to introduce of a new tax on banks or a new lending product meant to help small and medium-sized enterprises (SMEs).

„We talked today in the Government coalition about a plan of additional measures to restart the economy. We’ve decided to meet with central bank officials next week and discuss these measures,” Borbely said.

„We’re thinking of introducing a card for SMEs that would allow them to get investments of EUR100-150 million. This money would be state guaranteed and would come from the sale of the state’s minority stakes in various companies,” Borbely said.

The minister didn’t give any details about conditions SMEs would have to meet to get this financing nor did he give a timeframe for the implementation of this measure.

The Government is currently working to cut public spending by slashing public salaries 25% and pensions by 15%, in a bid to bring in this year’s budget deficit below 6.8% of gross domestic product and receive further installments of a EUR20 billion IMF-led loan agreed last year.