The American Chamber of Commerce in Romania (AmCham Romania) calls on decision-makers to pursue transparency and a long-term vision in defining the measures to reduce the budget deficit.
The business community understands the urgency of accelerating efforts to consolidate fiscal-budgetary measures to meet the budget deficit target and the need to correct deviations that generate opportunity costs for Romania, culminating in the danger of suspending European funds. The National Recovery and Resilience Plan (NRPP) is the main, if not the only, stimulus not only for avoiding economic recession but also for sustainable economic growth. Therefore, we cannot afford the risk of compromising the absorption of such funds.
Like in the past, we are concerned that hastily implemented and insufficiently analyzed measures, although generating budget revenues in the short-term, can have direct or secondary negative effects on the medium and long term, including on economic growth. In other words, let's not sacrifice long-term economic growth for short-term gains.
We reiterate the support of our business community for a fair and stimulating tax system and for eliminating all tax optimization loopholes that leave room for abuse. Avoiding negative impacts on economic growth, maximizing tax collection, stimulating investments, and creating synergy between the economic development strategy and fiscal policy are of utmost importance.
We understand from the public space that various scenarios of fiscal measures and policies are under analysis at the governmental level, as well as consultations with the European Commission. However, as always, we request transparent dialogue with the business community before making a final decision, as we want to be part of the solution.
