Political uncertainty and delayed reforms are weighing on investor confidence in Romania, with four out of 10 companies no longer planning investments and a growing number expecting economic stagnation over the medium term, according to AmCham Romania’s latest Business Climate Barometer.

The survey, conducted between April and May among AmCham member companies, indicates a deterioration in investment appetite compared with 2025, when businesses proved more resilient to political and macroeconomic challenges.

The eighth edition of the annual survey found that while most companies expect their 2026 operating results to remain broadly stable, investment and expansion plans over the next three to five years have become significantly more cautious.

“AmCham members send a clear message this year: investor confidence in Romania’s potential can no longer be sustained in the absence of structural reforms and stronger capacity to implement complex projects,” said AmCham Romania President Vlad Boeriu.

According to Boeriu, businesses have largely absorbed the impact of fiscal and budgetary measures adopted to reduce the deficit, but prolonged political instability and repeated delays in implementing reforms are increasingly discouraging new investments.

“While the business community has demonstrated resilience and absorbed the impact of fiscal and budgetary measures adopted to reduce the deficit, the prolonged period of instability and the postponement of structural reforms are discouraging new investment,” he said.

The survey points to a growing focus among investors on domestic risks and a stronger demand for policy predictability and reform implementation.

“If in 2025 companies were resilient to changes generated by the internal political situation and macroeconomic factors, in 2026 the expectations of the business environment are much more conservative,” Boeriu added.

The findings also showed declining confidence in Romania’s economic growth prospects, with most respondents expecting stagnation rather than expansion in the coming years.

AmCham said the results highlight the importance of accelerating structural reforms and improving the state's capacity to implement major projects in order to preserve Romania’s competitiveness and attractiveness for investment.

iulian@romania-insider.com

(Photo source: Facebook/AmCham Romania)