The Foreign Investors Council (FIC) partners with the Government to identify solutions for Romania’s economic recovery

The Board Members of the Foreign Investors Council (FIC) met on February 19 with the Prime Minister of Romania, Marcel Ciolacu, the Deputy Prime Minister and Minister of Finance, Tánczos Barna, the Deputy Prime Minister, Marian Neacșu, the Minister of Economy, Digitalization, Entrepreneurship and Tourism, Bogdan Ivan, the Minister of Energy, Sebastian Burduja and the Minister of Labour, Family, Youth and Social Solidarity, Simona Bucura-Oprescu. The main topics were Romania’s long-term development strategy, stimulating private investment, and reforming the fiscal framework.

FIC representatives pointed out that FIC Business Sentiment Index results show a trend of putting investments on hold due to political uncertainty, the budget deficit and fiscal measures. The Prime Minister of Romania conveyed to investors that the Government’s priority in the coming period will be to improve the collection, reduce expenses, and attract European funds in order to reduce as much as possible the pressure on the state budget in accordance with the budget adjustment plan.

FIC reaffirmed its commitment to collaborate with the government in order to identify the most sustainable measures for Romania’s economy but also warned about the medium and long-term negative impact that taxes on investments could have on the economy, and consequently to the contributions to the state budget. The government expressed openness to work with FIC in analysing possible scenarios that could reduce the fiscal burden on investments, to identify measures for stimulating investments, and provide further clarifications where needed.

The FIC will provide the government the package of macroeconomic analysis and studies prepared by FIC experts and will continue contributing to define a long-term vision for Romania’s development. The FIC and the government representatives agreed that an ongoing dialogue framework with all relevant actors is necessary to jointly change the international perception of our country and to identify specific solutions for economic recovery, stimulating investment and keeping the country’s rating stable.