The American Chamber of Commerce in Romania (AmCham Romania) is calling for transparency and a long-term vision from policymakers in defining a package of measures to reduce the budget deficit, so that long-term economic growth is not sacrificed “for a long time”. – short-term profits”.

“The business environment understands the urgency of accelerating fiscal consolidation measures to meet the budget deficit target, as well as the need to correct deviations that generate opportunity costs for Romania, culminating in the danger of suspending European funds. The National Recovery and Resilience Plan (PNRR) is the biggest, if not the only, stimulus we have to not only avoid economic recession, but to ensure sustainable economic growth. As a result, we cannot afford the risk of compromising the absorption of these funds,” AmCham Romania representatives said on Friday.

They express concern that the “untimely and insufficiently analyzed” measures taken may have a negative impact, including on inflation and economic growth.

“As before, we express concern that untimely and insufficiently analyzed measures, although in the short term they bring revenue to the budget, in the medium and long term may have direct or secondary negative consequences, including on inflation and the economy. In other words, let’s not sacrifice long-term economic growth for short-term gains,” said the AmCham press release provided to AGERPRES.

AmCham reiterates the support of the business community to rebuild the tax system on a fair and incentive basis and to eliminate all loopholes in tax optimization that leave room for abuse, noting that they are important: avoiding a negative impact on economic growth, maximizing budget collections, stimulating investment and synergy between economic development strategy and fiscal policy.

“From the public space, we understand that there are various scenarios of fiscal measures and policies that are being analyzed at the Government level, as well as consultations with the European Commission, but, as always, we require a transparent dialogue with the business environment before the final decision is made, because we want to be part of the solution,” said the document sent by AmCham Romania representatives.

The American Chamber of Commerce in Romania (AmCham Romania) is one of the most representative associations of the business community in Romania, recognized as a promoter of public-private dialogue on topics related to the business environment, public policies affecting the economy. , the competitiveness of Romania, or the dynamics of trade relations between the United States and Romania.

AmCham Romania was founded in 1993 and this year celebrates 30 years of presence and activity in Romania.

Currently, more than 530 American, international and Romanian companies, members of the AmCham Romania community, operate in 32 sectors of the economy, together provide more than 250,000 jobs and have invested more than 20 billion euros in Romania.

The combined turnover of AmCham members is 65 billion euros. Each additional million euros of turnover creates 10 more jobs in the economy. The added value created by AmCham members is €29.1 billion, representing 12.1% of Romania’s GDP (2021).