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Ion Sturza: Sudden changes in fiscal law amplifies uncertainty facing business environment
Legislative changes announced to be applied as of January 1,2018, by amending the Fiscal Code, amplify the degree of uncertainty facing the local business environment, said Ion Sturza, the president of Fribourg Capital, at the conference Making the Right Moves, organized by Profit.ro.
He added that companies will be compelled to increase salaries, because the labour market belongs to the employee, not the employer.
Sturza anticipated that for 2018, the first signs of tiredness are expected to appear in consumption area and in real estate, while businessmen and entrepreneurs must save for the winter to come next year. “It will be hard without reserves. I think that putting into practice the legislative changes as of January 1, 2018 means problems for 90% of companies in the IT sector, where profit margins will drop significantly and will affect their activity,” Sturza said.
The former premier of Moldova, Sturza, heads the investment fund Fribourg Capital, present as shareholder in many Romanian IT companies, among which online retailer elefant.ro.