Romania’s economy withstood significant adverse shocks in the wake of Russia’s invasion of Ukraine and the ensuing energy crisis. Tackling high inflation is the immediate task for macroeconomic policy. Fiscal consolidation would complement restrictive monetary policy in keeping demand at sustainable levels. Greater tax revenues are needed to stabilise the public debt burden while funding priority spending – including on critical infrastructure, pensions, health care and the education system. Productivity growth is a powerful engine for lifting living standards but sustaining it will require a sound investment climate backed by strong competition, predictable policymaking, financial inclusion and effective controls against corruption.
Romania Economic Snapshot
The snapshot offers a concise summary of the Romania's economic trends and prospects, drawing from the OECD Economic Survey, Economic Outlook, and Economic Policy Reform: Going for Growth reports, delivering in-depth analyses of economic trends, suggested policy recommendations, alongside an overview of structural policy developments.
Latest Economic Survey of Romania (March 2024)
Enhancing the business environment in Romania through industrial and manufacturing licensing simplification
In the framework of the project “Comprehensive redesign of the licensing system in Romania”, funded by the EU through the Structural Reform Support Programme, the OECD has been supporting Romania in identifying bottlenecks and practical reform actions to simplify business licensing procedures and improve the business environment, in co-operation with the Directorate-General for Structural Reform Support (DG REFORM) of the European Commission and the Romanian Competition Council. The project’s objective is to conduct a comprehensive stocktaking of business licenses in the commercial, industrial and services sectors and develop a roadmap for simplifying procedures in one sector of the economy.
This report provides an overview of reform options and practical actions that could support the simplification of business licensing procedures in the industrial sector, with potential spill-over effects for other sectors of the economy. It draws on international practices and experience of OECD countries and tailor them to Romania’s administrative and legislative context. It is accompanied by a simplification roadmap and business licensing inventory with practical advice on how to translate recommendations and practices into reform actions.
