Foreign Investors Council, Concordia Employers’ Confederation, Romanian Business Leaders. AmCham Romania, the French Chamber of Commerce in Romania, Romanian German Chamber of Commerce, and IMM Romania were part of the consultations today with the President of Romania, Nicușor Dan, in a joint effort to strengthen the institutional dialogue on Romania’s strategic economic directions leading to the reduction of the budget deficit.

During the meeting, essential topics related to fiscal policy and approaches to stimulating investment growth in Romania were addressed. The representatives of the business environment stressed that, in recent years, public spending has increased, thus creating significant structural imbalances that are no longer sustainable.

Among the solutions supported by the private sector, the importance of reducing tax evasion, de-bureaucratization of the administration, and accelerating the digitization process to increase budget revenue collection was highlighted, but the main recommendation was to reduce and streamline public spending.

In this context, representatives of the business environment expressed concerns about the increasing pressure on the private sector because of the adoption in recent years of several taxes with a negative impact on the economy. In a constructive spirit, the importance of a balanced approach, prioritising more efficient management of public spending, before considering new tax burdens on the business environment was underlined.

Today’s consultations once again reflect the desire of the private sector to contribute to a predictable, fair and transparent economic framework for Romania’s future and to work alongside the authorities to regain the trust of domestic and foreign investors and international partners. The business community members expressed their commitment to contribute to this process actively, providing the authorities with the expertise necessary to substantiate the best economic policies. The business organizations reaffirm in this context the openness to a real and efficient partnership with state institutions to benefit a healthy national economy.