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Romania can access 3 billion euros from fund announced by European Commission for COVID-19 consequences
European money is the next thing we must not forget, and Romania can access 3 billion euros from the fund of 37 billion euros, the European Commission announced recently, strictly for COVID 19 consequences, said Radu Burnete, CEO at Concordia Patrons Confederation.
“We proposed the government a series of 100 measures. Some of them were taken over by Mr Orban, but we are sure that, in the days to come we will discuss other ideas we have to support the economy. I think the next thing we must have in view is European money. EC announced a fund of 37 billion euros for all member states and Romania can access about 3 billion euros from there. The fund is strictly for consequences of COVID 19 and we first spend the money and then deal with bureaucracy, which is unusual for the European Commission. That means the money can be accessed quickly and considering Romania's deficit, the highest in EU, we think it is a rapid and efficient financing source,” Burnete said.
He added that some of the government's measures could have immediate positive effect on companies, such as VAT return, payment of medical leave and technical unemployment.
Asked what the most affected fields are, Burnete mentioned transports, hotel and restaurant industry and retail.
“Transporters are the most affected, because you saw that many factories close down, and that means they no longer need raw materials. Then, there is the hotel and restaurant industry. In the retail area we must make the difference between those who sell food and the non-food sector where consumers stop spending. So they too are strongly affected,”Burnete also said.