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Bucharest
October 27, 2020
ECONOMY FINANCE&BANKING

Gov’t: Research, development, innovation public spending to increase to 1pct of GDP by 2020

The targets in Romania’s National Research, Development and Innovation Strategy (SNCDI) 2014-2020, according to the latest amendments passed under a decision of the Government at a meeting on Monday, was set in order to achieve Romania’s convergence with the EU averages, so that RDI public spending may increase in stages to 1 percent of the Gross Domestic Product (GDP) by 2020.

The Government says in a press statement that the amendments update the national RDI strategy to its latest programme and the latest scientific developments.

“In the context of correlation with European cohesion policies, SNCDI 2020 sets to connect Romania to the new scientific and technological priorities of the European Union mentioned in the Europe 2020 strategy and the Europe – a union of innovation as well as its main implementation tool, the Horizon 2020 funding programme. (…) The strategy’s targets were set in order to achieve Romania’s convergence with EU averages: public RDI spending will increase in stages to 1 percent of the GDP in 2020, to which tax incentives will be added in the shape of indirect aid to privately-owned companies and stimulant measures for private research enterprise to help the country reach its pledged target.”

The Government says the amendments are designed mainly to secure better representation of the nuclear energy field, an important sector in Romania’s research community, and they contribute to the country achieving the goals provided for in the documents underpinning its national development strategy.

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