Study presented in Brussels: Competition Council has brought benefits of over EUR 1 bn in 20 years

The Competition Council has brought to the Romanian economy benefits of over EUR 1 billion in 20 years, since it was established. Thanks to the fines with which the institution sanctioned the companies that disregarded the rules of competition, Romanians had access to goods and services at fair prices, often the smallest against the rest of the European Union. This is the conclusion drawn by a study conducted by the Academy of Economic Studies (ASE), presented in Brussels.

According to the study, in 20 years since the establishment of the Competition Council, the fines given by the institution have had effects in the real economy, beyond the amounts collected to the state budget, reports.

“From our actions, the consumers paid less by EUR 1 billion, so there were direct savings, by price cuts, savings made by the Romanian consumers,” said Bogdan Chiriţoiu, the president of the Competition Council.

Difficulties in the investigations conducted by the council arise in cases when the investigated firms are not based in Romania. In these cases, collecting the fines may prove difficult, which is why the Competition Council supports the adoption of a European directive establishing a kind of fiscal Interpol.

The Competition Council starts the new year with investigations in various fields, from the banking sector to the medicines market, and their results will be revealed in the spring.


Academy of Economic StudiesASEbanking sectorBogdan ChiritoiuBrusselsCompetition Councilconsumersfinesinvestigationsmedicines marketRomanian economystudy
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