The contraction of Romania’s Gross Domestic Product by 6%, estimated for this year, is quite strong, but we hope it will be short-term and we will be able to restart the engines of the economy, said, on Thursday Steven van Groningen, president of the Concordia Employers’ Confederation and representative of the Federation of Banking and Financial Services.

“The European Commission forecasts a decrease of Romania’s GDP by 6%. We have seen several forecasts going in the same direction, and this is close to what we see around us. It is a rather strong short-term contraction, but we hope it will be short-term and we will be able to restart the engines quickly and I assure you that the companies we represent are doing their best to support this restart process,” van Groningen was quoted as saying by Agerpres.

According to the Concordia official, an important aspect is the resumption of public and private investments in Romania.

“It is very important to let go of public and private investment. We are now working with all our industries to identify important investments that could unlock the economy as it stands. Another very important thing is that in the next period, during the alert period , companies have the flexibility to adapt to the restrictions that would be imposed. We need a simple framework in which people can continue to work from home, to be able to adjust the work corridor, similar to that of other EU countries. Last but not least, let’s digitalize labor relations as soon as possible,” said Steven van Groningen.