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Pro-Growth Policy

Business confidence in Romania is at the highest level in the last 4 years due to robust economic growth prospects and to the recovery of investment and consumption.

According to the World Bank’s Doing Business Report, Romania is ranked 52nd ahead of Hungary, Cyprus, Croatia,
Bulgaria, Luxembourg or Greece. 
 The overall paying-taxes ranking of the country has been improving and is the second-best among the regional peer countries.

From a tax perspective, the number of payments/ year required to fulfill financial obligations has dropped dramatically, from 113 in 2012 (historic maximum) to only 14 in 2016. Coupled with a tax system that is one of the friendliest in the EU, even more, accessibility is the next step for growth.

In order to support entrepreneurs, the Romanian government has also simplified the process of opening up a business, reducing the necessary time from 29 days in 2004 to a little over a week in 2016.

For the short, medium and long-term, the government is committed to aiding emerging entrepreneurs.

The pro-growth policy has further implications for the Romanian business environment, with the necessary paid-in minimum capital decreasing by 2.3 percentage points since 2004, reaching a minimum historical value of 0.6% of income per capita.

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