Romania Should Focus On Supporting SMEs - Ctrl Bk Head

Romanian authorities can take lots of measures to support small and medium-sized enterprises, such as reducing bureaucracy and checkups, but also improving the business environment, central bank governor Mugur Isarescu said Wednesday.

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"Bureaucracy may cost a SME some important percentages of its turnover," Isarescu told a seminar.

The authorities should loosen the excessive inspections on the SMEs, as these checkups do not reduce the underground economy.

Ensuring macroeconomic stability, legislative predictability, a stimulating business environment and a reduced bureaucracy will help SMEs survive and will create more jobs and added value, Isarescu also said.

In 2009, SMEs' sales represented over 60% of the turnover of all companies in Romania, the governor said.

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