The largest business organizations in Romania sent an open letter to the President, Parliament and Government, which requires, among other things, an intervention of 15% of GDP and the reduction of the state apparatus, according to Hotnews.ro.

“At the current level of the nominal GDP of Romania and the estimated impact, the state intervention in the economy will be substantial, our proposal being up to 15% of GDP – about 30 billion euros,” the document shows.

“If the Romanian economy would be affected by 50% per month, in the next 3 months, then by 20% per month, for another three months, the total impact in this year’s GDP would be over 15%, and these figures are valid in a scenario that, at present, no longer seems the basic scenario, but an optimistic scenario. The basic scenario becomes, as the day goes by, one in which the global economy would enter into a longer recession, with a new peak of the crisis in the fall, instead of seeing the signs of economic recovery in Q4 – but even on this optimistic scenario, governments must take economic measures of a magnitude similar to the impact of the crisis,” the document states.

“As several countries have announced economic measures that are already double-digit of those countries’ annual GDP, the Romanian Government should prepare measures related to this level of up to 15% of GDP, as a direct support of the state, therefore through cash injections and forms of guaranteeing the credit of the economy, including for the affected households/ persons, as well as the significant increase of the public investments – above the initial level budgeted for 2020.”