Election time again!
We are less than one week away from elections and it seems that things are very quiet compared to previous leadups to an election.
Could the reason for this be that we can already predict the result and the opposition has already given up, or is it that like the decision makers of recent history, it’s safer to do nothing than potentially make a mistake?
The world has been shocked in the past six months by Brexit and the appointment of Trump in the USA, are we as citizens fed up with indecision and the politics behind politics or are we just looking for change globally for the sake of change?
The one thing as investors we should be looking for first and foremost is stability. Romania’s recent political history has been less than stable for a considerable period of time and has created reluctance from investors to commit money to Romania.
Projects of significant sums of FDI have been blocked in bureaucracy over the past 12 months especially due to decision makers fear of liability and responsibility.
The key to Romania’s future growth is having a political party that is willing to work with business, and no matter the outcome of who is elected, the only way we can function is to have a Government that has a majority to enable decisions to be made on their merits, not as political bargaining tools.
Historically Romanians do not like to give control to any one controlling party for fear of not having over site, however we end up in deadlock and create the inability of a government to govern efficiently. It is hard enough to implement policy in one term of office as it does not give time for change to appear, but to create positive change in a minority coalition Government with opposing fundamental political beliefs creates deadlock and stops all change.
If we review the history of growth in Romania since 1990, most of the positive growth happened during periods of having a controlling party governing the country, or when aligned coalitions were in place.
Let’s see if the global shakeup in political beliefs resonates all the way here in the next few days and we get to see Romania back on a positive growth path in 2017.
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