Starting off large public infrastructure works to mop up the labour laid off because of the crisis, building some 1,000 km of motorways in the next four years, introducing a private healthcare insurance system, boosting investment inflows through tax measures, and drastically cutting the number of agencies and public servants thereof operating under public authorities, are some of the measures advocated by business people for Romania, collected by daily Business Standard.
“The ongoing economic crisis could be partially set off by public works conducted on European grants. Such projects should start immediately after the election,” says Chairman of Deloitte Romania consulting firm George Mucibabici.
The 16% flat tax should also be cut, some business people argue, saying this would be a way for Romania regaining some of the ground it has lost to other markets in the region.
The 16% flat tax should also be cut, some business people argue, saying this would be a way for Romania regaining some of the ground it has lost to other markets in the region.
Other business people say a hike to 19% in the flat income tax would be more appropriate in time, while others say they would be happy with the current tax level.
The business people interviewed by the paper also request that the Government waste spending be cut, as that would save the country 2-3% of the Gross Domestic Product (GDP); a multiannual budgetary planning for at least three years, as well as continual decrease in labour taxation to bring to light a large portion of the grey labour market.
The business people interviewed by the paper also request that the Government waste spending be cut, as that would save the country 2-3% of the Gross Domestic Product (GDP); a multiannual budgetary planning for at least three years, as well as continual decrease in labour taxation to bring to light a large portion of the grey labour market.
Regulating business holdings, a matter postponed for years on end, would boost services in Romania in no time, managers argue.
They say Romania has over the past years lost a large volume of foreign investment because of deficiencies in its infrastructure.
“The economic crisis could be partially set off by public works conducted on European grants.
Given the electoral cycle and our experience with working with the public administration, the projects have to start off immediately after the election so as not to be interrupted by the election cycle,” says Mucibabicic of Deloitte Romania.
They say Romania has over the past years lost a large volume of foreign investment because of deficiencies in its infrastructure.
“The economic crisis could be partially set off by public works conducted on European grants.
Given the electoral cycle and our experience with working with the public administration, the projects have to start off immediately after the election so as not to be interrupted by the election cycle,” says Mucibabicic of Deloitte Romania.
Making access to agricultural loans and rural development projects easier could be another viable solution, the business officials argue, so that the country may reintegrate Romanians returning home from abroad, given that 80% of them hail from rural areas and they are expected to bring back with them a spirit of entrepreneurship and capital that they will use to start up small businesses.
Failure to make use of a travel master plan, on which work has been conducted for some years, is stymieing the development of this field with huge potentials in Romania.
A realistic energy strategy that emphasises privatisation, the urgent resolution of farm property ownership, along with providing incentives for investments in research and development are other main priorities advocated by the Romanian business environment.
More than 150 Romanian and foreign business people, to managers of local companies, consultants and academic officials told the paper about their opinions on the measures that should be taken by the public administration in relation to what they deem are the sensitive issues of the Romanian economy and society.
The conclusions of these conversations will be collected in a document that will be made available to the future Government, the paper says.
The conclusions of these conversations will be collected in a document that will be made available to the future Government, the paper says.
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