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CDR, open letter to President Iohannis: Lack of predictability could seriously affect Romanian economic climate in the medium and long term

In an open letter addressed to the Romanian President on Thursday, the Coalition for the Development of Romania (Coalitia pentru Dezvoltarea Romaniei–CDR) informs the Head of State about “the profound gravity of the lack of predictability that the business environment felt in 2017 and especially in recent weeks.”

“We want to highlight the precarious quality of the Romanian legislative process, which in 2017 was dominated by the abusive use of emergency ordinances, by non-transparency and by the lack of real communication with the business environment,” the document signed by CDR Coordinator Dragos Petrescu reads.

“The business environment needs predictable Romanian fiscal and labour frameworks. In this sense, the CDR has launched repeated calls on the Government and Parliament for the principles of predictability and stability to be observed, to the advantage of the Romanian economy.

“Considering Romania’s good economic situation, the CDR considers that the modifications to the Fiscal Code, which the business environment did not request, should not be implemented without a serious impact study and within such a brief deadline. The risk in the short term, but especially in the medium and long term, is that these modifications would generate unwanted and pointless imbalances in the Romanian economy,” the document reads.

“The CDR has repeatedly asked the Government to explain why these modifications must be made. We inform you that the business environment and Romanian society are yet to receive the reasoning for which Romania is carrying out these fiscal modifications on 1 January 2018,” the signatories of the letter also point out.

“At the same time, the CDR expressly signalled the Government that it disavows the statements coming from the governmental area against foreign and Romanian companies and banks, in general. Romania needs a trustworthy business climate in which all economic players have a beneficial role and can collaborate and work together.

Given this situation, we consider that the lack of predictability could seriously affect the Romanian economic climate in the medium and long term,” according to the letter that the CDR addressed to the Head of State, in which its signatories also express their confidence in his role as factor of stability and mediator in society.

 

 

 

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