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October 4, 2022
BUSINESS

Investors warn the IMF about unpredictability for the business environment



Unpredictability remains a big problem for the private sector of Romania, the vice-president of the Foreign Investors Council (FIC), Steven van Groningen told Agerpres yesterday, after a meeting between entrepreneurs, represented by the Businessmen’s Association of Romania (AOAR), FIC and AmCham (The American Chamber of Commerce and Industry in Romania), and the International Monetary Fund (IMF) delegation led by the head of the IMF Mission to Romania, Andreea Schaechter Hotnews.ro informs.
“The frequent changes of legislation, this is our problem which somehow has an impact on the economic growth potential. The principles are the same. If we expect people to invest money, regardless if they are Romanians or foreigners, we must convince them that the business environment is largely predictable, so a process of consultation should exist in place between the business environment – equally Romanian and foreigner investors – and the political side, so we do not have all kind of surprises,” van Groningen explained. The FIC vice-president added that consultations with political decision-makers are also necessary in view of measures that will make the economic environment predictable.
In his turn, AOAR president Florin Pogonaru warned the members of the IMF delegation that taxes cannot increase ‘under any circumstance’ in Romania. According to Pogonaru, the business environment is now in a “more disastrous situation than ever.”
In a different move, the representatives of Grampet Group met the IMF delegation at the end of last week over the privatisation of CFR Marfa, the railroad transport company led by Gruia Stoica announced. According to a communiqué, Grampet was asked to provide a point of view regarding the process and why it failed.
In other context, Eurostat announced yesterday that the confidence of the business environment and of the population in the Romanian economy experienced in October the most severe drop of the EU, in the situation of a significant worsening of the perception of the sector of services.

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