IMM Romania 2026 index records low amid business concerns over taxes and bureaucracy

The entrepreneurial confidence index compiled by IMM Romania dropped to its lowest level in three years in 2026, reflecting growing dissatisfaction among small and medium-sized enterprises with taxation and bureaucracy.

The index is predominantly backward-oriented (reflects past developments), and the dynamics of the two components have not been disclosed yet (the report was not published). Also, IMM Romania does not specify the period of the survey among entrepreneurs.

The index fell to 43.25 points out of 100, down from 49 in 2024 and 49.5 in 2025, the organisation representing Romanian SMEs said. The indicator combines macroeconomic performance from the previous year, which accounts for 75% of the score, with entrepreneurs’ expectations for the current year, weighted at 25%.

Survey results showed a marked deterioration in business sentiment (9.75 out of 25 points in 2025, from 12.5 points in 2024), according to IMM Romania’s press release, with none of the respondents expecting a significant increase in investments or exports in 2026.

Entrepreneurs identified bureaucracy and the tax burden as the main obstacles affecting the business environment, citing their impact on growth and operational efficiency. Lack of access to financing and negative prospects for exports or investments ranked high among entrepreneurs’ concerns.

Respondents also pointed to labour market challenges, particularly difficulties in finding skilled workers at acceptable wage levels.

At the same time, around half of those surveyed expect a moderate increase in inflation this year, adding to cost pressures.

The index is compiled by IMM Romania in partnership with Banca Comercială Română, Pluxee Romania, Banca Transilvania, and Groupama.

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