The American Chamber of Commerce in Romania (AmCham Romania) calls on policymakers for transparency and a long-term view in defining the package of measures to reduce the budget deficit, so that long-term economic growth is not sacrificed for "short-term gains".
"The business community understands the urgency of accelerating fiscal-budgetary consolidation measures to meet the budget deficit target and the need to correct the slippages that generate opportunity costs for Romania, culminating in the danger of European funds being suspended. The National Recovery and Resilience Plan (PNRR) is the biggest, if not the only, stimulus we have not only to avoid the onset of economic recession, but also to ensure sustainable economic growth. As a result, we cannot afford the risk of compromising the absorption of these funds," AmCham Romania representatives said on Friday.
They express their concern that the measures taken "untimely and insufficiently analysed" may have negative effects, including on inflation and economic growth.
"As in the past, we express our concern that measures taken untimely and insufficiently analysed, although they generate budget revenues in the short term, in the medium and long term they may have direct or secondary negative effects, including on inflation and economic growth. In other words, let us not sacrifice long-term economic growth for short-term gains," the AmCham press release, issued by AGERPRES, states.
AmCham reiterates the support of the business community for the re-establishment of a fair tax system, based on incentives, and for the elimination of all tax optimisation loopholes that leave room for abuse, mentioning that the following are essential: avoiding negative impact on economic growth, maximising budget collection, stimulating investments and synergy between economic development strategy and tax policies.
"We understand from the public space that there are various scenarios of measures and fiscal policies under consideration by the Government, as well as a consultation with the European Commission, but, as always, we ask for a transparent dialogue with the business environment, before a final decision is made, as we want to be part of the solution," says the document sent by AmCham Romania representatives.
The American Chamber of Commerce in Romania (AmCham Romania) is among the most representative associations of the business community in Romania, recognized as a promoter of public-private dialogue on issues concerning the business environment, public policies with an impact on the economy, Romania's competitiveness or the dynamics of trade relations between the US and Romania.
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