Romanian Social Democrat Leader Liviu Dragnea Launches Election Campaign

BUCHAREST, Romania, November 11, 2016 /PRNewswire/ --

Liviu Dragnea, leader of the Social Democratic Party of Romania (PSD), today officially launched his party's campaign to restore government by popular vote and replace the current interim regime appointed a year ago.

In accordance with the nation's election law, PSD launched a series of TV spots to showcase the party's economic program and candidates began door-to-door campaigning across Romania's 41 counties. The center-left PSD, the largest of Romania's political parties according to recent polls, is staking its bid on the slogan "Dare to Believe" and a platform focusing on putting more of the returns from the nation's expanding economy into the pockets of citizens.

In several pre-election announcements, Mr. Dragnea has already rolled out the main elements of the PSD economic plan. These include a major investment program, dramatic tax changes, steps to attract desperately needed medical professionals back to Romania and a program to give bootstrap support for new businesses.

"We want Romanians to believe in the future -- their future in a growing, economically dynamic Romania with standards of living equivalent to anywhere in the European Union," Mr. Dragnea said.

Among the programs announced in recent weeks are the following:

• A national reindustrialization program designed ultimately to generate 45,000 new jobs. Linchpin of the plan is a EUR 10 billion (45 billion Romanian Leu) state investment fund, the Sovereign Fund for Development and Investment or SFDI (Fondul Suveran de Dezvoltare si Investitii, or FSDI), which is to be created from the assets owned by the state in 200 profitable companies. The fund is expected to generate revenues of over 50 billion leu in the next four years, as dividends from those companies are reinvested, and private investments are attracted.

• Wide-ranging tax reform. This includes the elimination of 102 non-fiscal charges of various kinds which it has been estimated will produce a 90% saving of time spent by citizens queueing, filling out forms and paying various state fees.

• A major across-the-board cut to 10% from 16% in Romania's flat income tax, and to nil for those on low incomes.

• Increased salaries and tax waivers for physicians, to reverse the brain drain from Romania's hard-pressed health care system. The PSD has also promised to address problems in the nation's medical infrastructure to improve work and treatment conditions. The party is campaigning to stop over-pricing by foreign pharmaceutical companies and to encourage more production by Romanian drug companies.

Mr. Dragnea has also announced a planned "Startup Romania" program as one of the ways his party wants to bring more Romanians into the middle class, encouraging people to take action and start their own businesses. The first step will be elimination of registration charges for new businesses, part of the tax reform program. The party also proposes to establish a specialist entrepreneurship high school in major cities. In addition, It plans to establish a one-day company registration system incorporating free business banking and the provision of electronic signage for new businesses.

In the wake of recent EU confirmation that the current government has failed to meet administrative requirements to collect funds it is entitled to, the PSD has pledged to greatly increase Romania's absorption rate once it is back in charge.

About the Social Democratic Party of Romania

⁠⁠⁠The PSD, in Romanian Partidul Social Democrat, was originally formed in 1992 as a party of the center-left and is currently the largest grouping in both lower and upper houses of the nation's parliament, while also controlling more than half of the mayoralties and over 65% of local and county councils, including the capital of Bucharest. The PSD paved the way for Romania's historic accession process into the EU in 2007, and today holds 16 of the country's 32 MEPs. Its 2012-15 government was considered one of Romania's best, leading the country's emergence from the economic crisis and achieving rapid growth, together with a sharp increase of people's living standards. Liviu Dragnea, the PSD's current president, was elected party leader in 2015 and has since led a series of reforms that have positioned the PSD to form Romania's next government. Mr. Dragnea is a former Deputy Prime Minister and Minister for Regional Development.

For further information: Steluta Negoita, +40 730 650 545, presa@psd.ro in Bucharest or Zhenya Harrison, +44 (0)20 3397 2825 or zhenya.harrison@belgravestrategic.com in London.