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February 26, 2021

FM Petrescu: It bothered me that the CAS cut draft law became political polemic

Cutting the social security contributions (CAS) is a good measure for development, but it has been largely criticised until it became political polemic, Finance Minister Ioana Maria Petrescu told a plenary session of the Senate on Monday.

‘I, the Finance Ministry and this draft law have been largely criticised. I have to confess that had the criticism been directed only at me as the minister, I would have not seen it as a problem. But, I was very much bothered that a very good tax measure that is pro-business and pro-development turned into political polemic,’ said Petrescu.

She pointed out that the political environment should act as a support lever for economic measures that will secure stability and predictability in the business milieu and project certainty to Romanian and foreign investors alike, and that public policies in Romania can provide a business milieu that can boost development.

‘We want good investors for Romania, but we cannot offer them proper conditions. When we offer such conditions and want to take a measure to provide such conditions, we split hairs and forget where we started and what we wanted to do in the beginning. There is indeed no development without funding and you can rest assured that we do have the necessary resources to finance the cut in the CAS when the law is promulgated by the President,’ said Petrescu


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