Romania has entered a crisis, but we don't have the numbers yet to tell us that we are there, said Dan Ostahie, founder and CEO of Altex Romania, at a specialized event on Wednesday.
"I think my experience is related to the Romanian market. And I think that, at the moment, we are heading towards a crisis that we have already entered, but we don't have the numbers to tell us that we are there. There will probably be numbers, after which the mourning period will appear. We will realize that we are in a crisis and, depending on the speed with which macroeconomic measures are implemented, we will come out of this crisis sooner or later," Dan Ostahie told an event to analyze the Romanian mergers and acquisitions market in 2025, organized by EY Romania.
Asked about the future of the company, he stated that Altex Romania is in the consumer industry and grows and declines depending on its evolution. On the other hand, he believes that the economy will restart as inflation is reduced, and reducing inflation will be possible when the state manages to reduce administration costs.
Asked about the measures taken, he mentioned that Romania has a VAT rate below the average in the European Union and the increase from 19% to 21% does not represent a dramatic difference. At the same time, however, the businessman advocated bringing the cost of utilities to a standard below the European average.
"From my point of view, two elements are essential: reducing inflation and bringing the cost of utilities to a standard below the European average, because Romania is a production hub that cannot capitalize on its labor force potential as long as the cost of energy is above that of Germany. Impossible. So, these two simple things, after which one can nuance a lot, but I see them as major. If we talk about the measures that have been taken, now, VAT - we have become accustomed to a VAT that is still below the European average. From 19 to 21 I do not see a dramatic difference", declared Dan Ostahie.
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