Competitive Romania strategy requires EUR 18 bln for implementation

Newsroom 06/12/2016 | 11:45

The government’s strategy Competitive Romania, which maps the sustainable development of the coutry in the 2016-2020 period, needs a budget of EUR 18 billion to be fully implemented, accounting roughly for 10.7 percent of this year’s GDP.

According to the final version of the strategy, which was published by the Ministry of Economy, around two thirds of this sum can already be found in the budget of ministries and the money only needs to be redirected towards the objectives of Competitive Romania.

„For the rest of around EUR 6 billion, it should be mentioned that between 2016-2020 the GDP will grow by around EUR 40 billion (in a realistic-conservatory estimate); as the consolidated budget represents around one third of annual GDP, it results that in the respective period, the buget resources will grow by EUR 13 billion,” according to the strategy.

Read about the way in which Competitive Romania maps the future of the economy in an exclusive series of articles published by Busines Review

The document includes 16 strategic sectors with 44 objectives and 127 measures. Among the strategic fields, the government has included the healthcare sector, the construction of new homes, the development of transport infrastructure, the stimulation of associations of small farmers and the attraction of foreign direct investments.

For instance, the government estimates that around EUR 8 billion is needed for the developemnet of road and rail projects. Other fields that the government considers strategic are Research&Development, IT&C and the cultural and creative sectors.