The values used as criteria for defining the status of micro-, small and medium-sized enterprises will be adjusted. For example, micro enterprise will be considered the firm that has an annual turnover of under 18 million lei or total assets to the value of less than 18 million lei, up from the current ceiling of 9 million lei. A bill to this effect was given a final reading by Parliament, IPN reports.

The category of small enterprises will include enterprises with an annual turnover under 50 million, up from 25 million lei at present, while the category of medium-sized enterprises – firms with an annual turnover under 100 million lei, up from 50 million lei.

The lowest limit on the number of employees for the classification of SMEs is proposed to be removed.

According to the authorities, the modification of the criteria will enable to increase the current number of micro-, small and medium-sized enterprises by at least 805 units.