The Romanian government is trying to reduce national’s trade deficit with the help of state aid schemes. This state aid is granted to companies operating in areas with the potential to increase exports or reduce imports. The information was announced in Cluj by the minister for the economy, Florin Spătaru, who met representatives of several companies with Romanian and international capital.
Economy Minister Florin Spătaru noted that a large part of Romania’s trade deficit is caused by imports from sectors such as construction materials and the chemical industry. He therefore proposed state aid schemes for companies in these sectors that are able to produce to meet domestic demand and even generate new exports, according to Florin Spătaru.
Another branch of the economy capable of generating significant exports is semiconductors and new technologies. In this field, state aid will target in particular those companies capable of ensuring technology transfer from research and innovation centres to the business environment, Florin Spătaru said.
At the moment, Romania’s trade deficit is around €30 billion a year. With the help of new state aid schemes, the economy minister hopes to reduce this deficit by 10%. Florin Spătaru also hopes that the effects of these state aid schemes will be felt throughout the economy and that companies will become more profitable so they can support the increase in the minimum wage to €500 a month from 2025, according to ClujInsider.ro.
