Romanian President: Investors’ efforts shouldn’t be cancelled by fiscal policies

Romania’s President Klaus Iohannis continued to criticize the Government’s recent fiscal changes in a message to investors present at the “National Firms’ Ranking” gala at Romexpo, on Thursday evening. He said that the local entrepreneurs don’t fight only against the economic uncertainty that is inherent to business but with the unpredictability of government policies as well. “It’s a big injustice that your efforts and business plans are cancelled by uninspired fiscal policies, insufficiently reasoned and lacking economic fundamentals. I think these practices should stop,” Iohannis wrote in his message to companies, which was read by presidential advisor Cosmin Marinescu. The President emphasized that the business environment could only prosper through responsible and coherent economic policies that solve current problems without generating more serious ones on the long term. “I regretfully notice that, despite calls for economic predictability, including from you, the Government has decided to change essential fiscal provisions less than two months from the date these changes should come into force. It’s inadmissible that business people can’t draft their business plans because of confusing and instable fiscal policies, that seem to be at the exclusive discretion of several decision makers,” Iohannis added. Earlier this week, the president asked the Government to postpone its fiscal measures until their impact is thoroughly assessed. Romania’s Government approves fiscal measures despite criticism President urges ruling coalition “not to engage Romania in a fiscal adventure with a sad ending” editor@romania-insider.com