AmCham Romania sends a warning signal regarding the accelerated decrease in the quality of public policy, law-making and governance in Romania.

“We are confronted with concomitant changes through emergency ordinances, of legislation governing multiple strategic sectors for the economy, in a fast-forward mode that does not allow for observing all the necessary steps for ensuring the predictability, transparency and assessment of the economic and social impact of the adopted measures,” said AmCham.

“Such an approach has deemed the National Reform Program obsolete in setting national reform priorities, while the results of World Bank projects aimed at restructuring reform implementation mechanisms within the central government function are long-forgotten,” AmCham representatives added.

As the business community calls for the abrogation of EO 114/2018, the Government announces new legislative projects with widespread implications in the economy, deepening the uncertainty and the risks that Romania becomes more vulnerable to the tensions characterizing the global, regional and national economic context and to an economic cycle reaching maturity.

“The announced measures include the GEO Draft initiated by ANPC imposing fines of up to 4% of the economic operators’ turnover, the unexplainable transfer of attributions from ANAF to CNSP (National Commission for Strategy and Prognosis) or pressures on independent institutions such as the Competition Council by imposing an unrealistic calendar for finalizing investigations or systematic attacks at the National Bank of Romania. Similar concerns are raised by the distortion of the normal pace of preparation, public consultation and approval by the Parliament of the State Budget Project for 2019,” said AmCham. Such approach, disconnected from the standard practice and from the calendar set by the Public Finance Law for the adoption of the state budget, denies any opportunity to have a qualitative public consultation on the most important public policy tool for the allocation of resources for the current year, and an in-depth scrutiny of the allocation of public resources in the Parliament, according to AmCham.

AmCham Romania points out that this comes with a high price that Romania will pay in terms of country image and credibility among investors, built over time, with sustained efforts and very hard to recover once lost.