K. Iohannis: Romania - one of the highest economic growth rates in the EU

Romania currently registers one of the highest economic growth rates at European level, but there are still imbalances in terms of macroeconomic sustainability, states the message of President Klaus Iohannis for the Congress of the Romanian Body of Expert and Licensed Accountants (CECCAR), organized in the context of the 100th anniversary of Romania’s Great Union and 97 years of the history of the regulated accountancy profession.

According to a press release from the Presidential Administration, message was delivered at the opening of the Congress by Cosmin Marinescu, presidential advisor - Department of Economic and Social Policies.

"The activity of CECCAR members contributes to ensuring a sound economic climate. Prudence and fairness are not just words, but guiding principles that help you lead and organize your activity. With a tradition of almost 100 years in Romania, the accountancy profession plays a key role, through the support, solutions and guidance provided to the business environment, alongside the other professions in the economic field, such as auditors, assessors, tax advisors, and legal professionals, such as lawyers and insolvency practitioners. These liberal professions are vital for the market economy and its performance. Only through close cooperation among the actors of the economic environment, both in the liberal professions and in the direct productive field, Romania can consolidate its economic performances through sustainable convergence with the Member States of the European Union", reads the presidential message.

Iohannis points out the importance of the opinion of the body of accountants on the Romanian economy.

"The post-crisis era has been challenging for our economy. At present, Romania has some of the highest economic growth rates at European level, but there are also some imbalances in terms of macroeconomic sustainability. Your expectations and those of the companies you work for, to operate in a predictable and sustainable climate, are fully justified. Therefore, you should not neglect the role you have as professionals in identifying and communicating solutions that will lead to such a climate. You know very well that it is not healthy for a company to borrow on a long-term basis to finance current spending. Same reasoning can be extended to the national economy as well. Allocation of resources to the detriment of investment is not a sustainable model of economic development. Sooner or later, perpetrating this approach will lead to limitation of growth opportunities. In this sense, debating public policy and possible solutions, with seriousness and responsibility, is not only a right, but also an obligation of all political and economic actors, and your word is very important", says the presidential message.

At the same time, Head of State also refers to the great global trends of digitization, cloud technologies or artificial intelligence that impact accounting too.

"Innovations, such as optimizing accountancy solutions with artificial intelligence, are real opportunities that call for flexibility and vision. So I welcome the inspired choice of the theme of this congress, because the sustainable future of your profession depends directly on these concerns and directions of action".

Also, Klaus Iohannis makes a reference to the fact that in the centenary year, the accountant profession celebrates 97 years of activity in Romania.

"Although we are currently confronted with a significant reduction in the number of high school graduates, the number of students enrolled in bachelor's and master's degree programs is still growing at the major universities in the country. Good training and integrity with your profession are valuable assets, which make CECCAR a recognized and respected brand in our country and among policy makers. I congratulate you for your work and I wish you a lot of success from now on, too!", President's message says.

Source:RRA.Translated by Miruna Matei