Romania’s Prime Minister announces „economic patriotism”: €600 million support scheme for food processors and Government decree to cap profit margins on 14 basic foods

Prime Minister Marcel Ciolacu said on Friday, at the beginning of the government meeting, that the government „is realizing the vision of economic patriotism and productivism”. He announced that the government adopted in today’s meeting the emergency ordinance that caps the commercial markup charged by producers and traders to 14 basic foodstuffs.

He also announced the adoption of a €600 million support scheme for food processors.

The funds, in the form of state loan guarantees, will be available for investment in production facilities.

The draft GEO stipulates that only companies making investments of at least 2.5 million lei (the equivalent of around €500 000) will be eligible for aid. Also, beneficiaries of state aid under the programme must ensure a financial contribution of at least 25% of the eligible costs of the investment project from their own resources.

See here the draft Emergency Ordinance for capping the mark-up on 14 basic foods

See here the draft GEO for the support scheme for food processors