Romania’s President speaks about foreign investment
Romania's President Klaus Iohannis has attended a reception hosted by the Romanian-German Chamber of Commerce and Industry
Mihai Pelin, 26.01.2018, 13:44
According to Romanias President Klaus Iohannis, foreign investment is not an adversary to Romanian entrepreneurship, but a genuine partner, offering increased business opportunities and models of effective management. Attending a reception hosted in Bucharest by the Romanian-German Chamber of Commerce, the president underlined that the Governments priority in 2018 should be the business sector, which has recently been facing unexpected challenges with regard to the quality and predictability of economic policies. President Iohannis argued in favour of a robust economy, based on a responsible governing program and predictable policies.
Klaus Iohannis: “As with every government, I want to call on the new one to pay attention to their responsibility to ensure Romanias economic stability above anything else. The future Government should understand it is important not to jeopardize fiscal sustainability and Romanias long-term development potential by means of ill-advised and risky measures. I will hold talks with the new Cabinet and call a consultation with decision-makers on the sustainability of their economic measures”.
The president also recalled the downward trend of public investment, adding that it is not enough to have budget allocations for investment only “on paper”. These investments should be actually made, and thus stop neglecting key sectors such as infrastructure. Romanian economy fares extremely well figure-wise, but the figures unfortunately do not reflect the quality of economic policies, with the business sector managing to report progress rather despite such policies.
Klaus Iohannis has warned that, although Romania reported a record-high economic growth at EU level in 2017, lawmakers had difficulties observing the budget deficit target of 3% of the countrys GDP, as stipulated in the budget and fiscal framework. Against the background of careless fiscal policies, they had to take extraordinary measures, such as the reintroduction of the additional excise duty on fuels, taking on additional dividends from state-owned companies or blocking payments to credit release authorities towards the end of the year. Add to that the chaos generated by the changes to the Fiscal Code, which nearly everybody has criticized, and the result is a blatant disinterest on the lawmakers part in ensuring the economic predictability the business sector wants, President Iohannis went on to say. The President believes, however, that the business sector will manage to uphold its priorities and consolidate its achievements through transparency and open dialogue with the countrys decision-makers.
