AmCham Romania: "The fiscal policy must be integrated into a medium and long-term vision for Romania"

AmCham Romania expresses its concern regarding the impact the recently announced fiscal policy measures, both in terms of the increasing costs these are generating for taxpayers and in terms of the budgetary sustainability of such measures.

2017-11-01 15:22:58

In AmCham's vision, both the frequency of the fiscal changes adopted through emergency ordinances, and their financial and administrative impact takes its toll on doing business in Romania, lowers confidence in the economic governance and in the overall Romanian economy, consequently affecting the country's competitiveness and capacity to attract resources needed for the economy's sustainable growth.

"It is worrisome that the estimated budgetary deficit to be generated by the announced fiscal change will reach five billion RON in 2018 alone, and between three and four billion in 2019 - 2021, which will hinder the economic growth and puts additional pressure on the observance of the three per cent budgetary deficit target. It is highly important to avoid any measures that could lead to additional tax increases and cuts of investments for infrastructure, health, education, research, etc, that are needed for Romania's further economic growth," a press release shows.

AmCham Romania reiterates the need for the fiscal policy to be integrated in a medium and long-term vision for Romania and to be part of a strategic approach that will fully observe the fundamental principles of stability and predictability, provided in the Fiscal Code legislation.