BUCHAREST, Romania – The U.S. ambassador to Romania has urged the government to maintain stable economic practices amid uncertainty about an overhaul of the tax system and other changes.
Continue Reading Below
Hans G. Klemm, Washington's envoy to Romania, on Thursday praised Romania's current business climate, but added: "the new government should do everything to maintain this attractiveness."
He referred to recent comments he made, where he said business needed "a policy environment here in Romania that is stable, predictable, transparent and marked by genuine consultation with all stakeholders, including foreign investors."
Last week, the leftist government said it was considering replacing the 16 percent corporate tax on profit with a progressive tax rate, and also planned to postpone a reduction of sales tax.
Investors have urged the ruling Social Democrats to ensure predictable fiscal policies.