Romania’s new Government plans to renegotiate the budget deficit targets with the European Commission (EC).

It also wants to draft an investment plan for ten years and create a single administrative structure which manages all the state-owned companies. The ten-year plan should be approved by all political parties and should be based on the consultation with the private sector and civil society, reports local Mediafax. The new governing plan aims to create a more stable business environment.

The plan also focuses on reducing bureaucracy and simplifying the tax rules, so that Romania’s Tax Agency ANAF can collect more revenues.

Prime Minister-designate Dacian Ciolos has sent the Parliament the governing plan.

editor@romania-insider.com