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Fiscal-budgetary measures adopted at Gov't meeting

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Prime Minister Viorica Dancila has announced that the draft Government Emergency Ordinance (GEO) regarding the fiscal-budgetary measures was adopted at the extraordinary Government meeting at the Victoria Palace.

President Klaus Iohaniss does not participate in this meeting of the Executive.

"We are going to approve today a series of measures aimed mainly at improving Romanians' welfare, increasing the level of investments and remedying some wrong practices in the banking sector and in the energy field," the Prime Minister stated in the opening of the Government meeting.

Viorica Dancila announced that one of the measures included in the emergency ordinance refers to the initiation of a programme to build 1,000 sports kindergartens, in partnership with the business environment.

"The private companies and the foundation that are going to build in the next two years such a kindergarten will receive 500,000 euros from the Romanian state upon the finalization of their investment," explained the PM.

President Klaus Iohannis said, referring to the emergency ordinance on the fiscal measures announced by the Finance Minister, that such measures clearly have a negative impact on the economy, as they haven't been prepared, underscoring that he hopes that his call on the government to resume the discussion and come up with a package of explicable measures has been understood.

"I have said since day one that such measures clearly have a negative impact on the economy, as they haven't been prepared. There has been no preparation, no transparency, no dialogue with the business environment and no explaining of the need of these measures, therefore it is clear that Romania as an economic location will have to suffer. Attractiveness for investors drops or rises depending on the security of the economic environment. I wish high attractiveness for Romania. For the Romanian economy it is very important to be an attractive economic location, for Romanian and foreign companies to wish to develop their business in Romania. Or if on a governmental level we have from one day to another, one week before the end of the year, dropping on the table measures with a profound impact in economy, then certainly many investors will stay and think if it is the case or not to continue or to go develop a business in Romania," Iohannis told the joint press conference with Sebastian Kurz, the Austrian Chancellor.

He said he hopes the Government understood to resume the discussion and come up with a package with a solid ground.

"it is a shame that this thing isn't yet understood on a government level, because Romania is an economic location with a great potential. This means more and better paid jobs for Romanians. If we endanger this, it means we are going in the wrong direction. My call was on the Government and I hope it was understood as such, to resume the discussion with the partners, to make the assessment again and come up with a package of measures that are explicable, having a solid ground, that can be put into practice without damaging the Romanian economy," Iohannis added.



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