Fiscal consolidation is at the top of the priorities as a central element in Romania's competitiveness, business representatives said on Wednesday after meeting Prime Minister Luca Niculescu and other members of the government.
"At the top of the priorities highlighted by the representatives of the private sector was fiscal consolidation, a central element in Romania's competitiveness. At the same time, it must be supported by complementary objectives, such as narrowing the budget deficit, lowering inflation and carrying out structural reforms," reads a joint press release of AHK (Romanian-German Chamber of Commerce and Industry), AmCham (American Chamber of Commerce in Romania), BRCC (British Chamber of Commerce in Romania), CCIFER (French Chamber of Commerce and Industry in Romania), FIC (Council of Foreign Investors), CCIpR (Italian Chamber of Commerce for Romania) and NRCC (Dutch Chamber of Commerce in Romania).
Wednesday's dialogue began with the presentation of the government's priorities for attracting and stimulating investments and focused on the main economic issues on the agenda of the consultations.
The leaders of business organizations and government officials discussed and reconfirmed the fiscal commitments taken up since taking office, such as the repeal of the minimum turnover tax (IMCA) from January 1, 2027, but also the operationalisation of the state aid schemes from the economic recovery package.
They also agreed on the need to restore investor confidence through a stable regulatory framework and clear priorities to support increased investment flow and productivity.
They also put forth a series of sectoral measures to ensure industry's access to energy at competitive prices, a sped-up digitalisation of public services and the rethinking of the VAT collection mechanism in order to combat evasion.
"Among the strategic objectives at national level, the business environment has requested keeping up, in the next six months, of a coherent path of structural reforms, aligned with the objectives of Romania's accession to the Organisation for Economic Cooperation and Development (OECD), and the launch of a national project for a switchover to the single European currency, the euro, to be supported by the government, the National Bank of Romania (BNR) and the other relevant actors. AHK Romania, AmCham Romania, BRCC, CCIFER, the Foreign Investors Council (FIC), CCIpR and NRCC reaffirm their willingness to continue their dialogue with the government and to contribute the expertise of the business environment to identify concrete solutions for the development of the economy. The government's decisions must ensure predictability, stability and fair conditions for all companies that invest, create jobs and contribute to Romania's development," say the representatives of the business environment.
During the meeting with the representatives of foreign investors, Prime Minister Luca Niculescu announced that economic recovery is the main objective of the Executive.
"The good signal these days, when Romania has attracted EUR 4.5 billion from the international financial markets, is the confirmation that overcoming the political deadlock in Bucharest has generated an increase in external credibility. Restarting the engines of the economy through new investments can generate new jobs and opportunities, especially for young people," said Niculescu.
