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Asset Recovery Strategies in Romania: A Critical Review of Current Initiatives
Romania, like many other European countries, is grappling with the issue of asset recovery in the post-pandemic era. The country’s economy has been severely impacted by the pandemic, leading to a significant increase in corruption and embezzlement of public funds. To address this challenge, the Romanian government has launched several initiatives aimed at recovering stolen assets and strengthening the fight against corruption.
National Strategies
One of the most notable initiatives is the National Strategy on Preventing the Institutionalisation of Adults with Disabilities and Accelerating the De- Institutionalization Process, 2022-2030. This strategy aims to reduce the number of adults with disabilities currently living in dedicated institutions from 16,911 in 2020 to 11,500 by June 30, 2026, and further to 10,349 by the end of 2030.
Another key initiative is the National Strategy on Long-Term Care and Active Ageing for 2023-2030. This strategy aims to increase the number of elderly people who are able to live an independent life as long as possible, while improving access to adequate long-term care services for dependent elderly people. The strategy also prioritizes prevention measures to enhance the efficiency of expenditures and the quality of social assistance for the elderly.
Reform against Corruption
The Romanian government has also launched a reform aimed at stepping up the fight against corruption. This reform involves adopting a national strategic framework for preventing and repressing corruption, strengthening the anti-corruption institution DNA, recovering stolen assets, ensuring an efficient system for declaring assets and interests, and implementing a new anti-corruption strategy.
Corporate Governance
In addition to these initiatives, Romania is also working to improve its corporate governance of state-owned companies in the energy sector. The country has a rapidly ageing population, with around 3.7 million people aged 65 or over, around 19.2% of the population. This share is expected to increase further to 27.7% by 2050.
Conclusion
Romania’s efforts to recover stolen assets and strengthen its fight against corruption are critical to ensuring transparency and accountability in public spending. The country’s recovery strategy should focus on recovering stolen assets, strengthening institutions, and promoting good governance practices.
Asset Recovery Strategies
- Recovering stolen assets
- Strengthening institutions
- Promoting good governance practices
- Increasing transparency in public spending
- Reducing corruption in the energy sector
Initiatives
- National Strategy on Preventing the Institutionalisation of Adults with Disabilities and Accelerating the De- Institutionalization Process, 2022-2030
- National Strategy on Long-Term Care and Active Ageing for 2023-2030
- Reform aimed at stepping up the fight against corruption
Impact
- Reduced number of adults with disabilities living in dedicated institutions
- Improved access to long-term care services for elderly people
- Strengthened anti-corruption institution DNA
- Recovered stolen assets
- Promoted culture of integrity and ethics among public officials