Romanian Fin Min Proposes State Aid Hike, To RON1B For ‘09

Romanian economy and finance minister Varujan Vosganian proposed that the sum assigned to state aid for next year be increased to 1 billion lei (EUR1=RON3.6610), from the current RON200 million, Vosganian said Sunday.

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The state aid is the most direct means of supporting economy, and it is normal that the Government be preoccupied to ensure higher funds as possible, Vosganian said.

It is also an instrument which can lead to a significant increase in the investments made in the economy sector, he added. The largest sums have been assigned to help the small and medium-size enterprises (SMEs).

Prime Minister Calin Tariceanu announced two weeks ago the sums allocated to state aid will rise four times next year, compared to those stipulated by this year’s budget, up to RON900 million for the large investment projects and for SMEs.

The Government decided on the sums allocated to state aid following the international financial crisis.

Tariceanu said currently both Romanian companies and foreign investors can benefit from state aid destined to large investments.

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