COVID-19: SYNTHESIS AND ANALYSIS OF SUSTAINABILITY MEASURES FOR THE ROMANIAN ECONOMY
COVID-19: SYNTHESIS AND ANALYSIS OF SUSTAINABILITY MEASURES FOR THE ROMANIAN ECONOMY

Summary/Abstract: The crisis generated by Covid-19 is universal, affecting the world not only from a health perspective, but also from a socio-economic one. While facing an unmatched situation, governments have reacted differently in order to bolster their economies. This article deals with the support established by the Government of Romania for businesses. The analysis includes three major instruments: IMM Invest, Emergency Situations Certificate and technical unemployment. Furthermore, a number of other secondary measures along with the prepared support for economic recovery are mentioned. The study relies on official data communicated by the authorities, on petitions submitted to ministries, on press information, and on the collection and examination of statistics. How these programmes were carried out during the state of emergency, what immediate effects they had and what else should Romanian entrepreneurs expect are key questions to which this article provides answers. Technical unemployment was a necessary measure, taken in due time and prolonged long enough, but once halted, it can generate the termination of many employment contracts. The Emergency Situations Certificates, due to the low number of requests, suggest the fact that this instrument was overwhelmed by the situation. Their importance can rise during the period of economic invigoration if there will be non-reimbursable support provided on its basis. Last but not least, the IMM Programme, during its first weeks of existence, generated nine times more rejected than approved applications and offers the public space contradictory data depending on its source. In these conditions, companies are looking forward to economic recovery measures.

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