Prima pagină » English » Romania Budget Deficit To Include Data From Money-Losing Cos

Romania Budget Deficit To Include Data From Money-Losing Cos

Romanian government will amend budget deficit calculations to include the debts of 30 state-run companies, as well as the results of investment fund Fondul Proprietatea, according to the country’s technical memorandum of understanding to a follow-up deal with the International Monetary Fund.
Romania Budget Deficit To Include Data From Money-Losing Cos
Ioana TudorLiliana Micu
04 apr. 2011, 18:44, English

The list of the 30 money-bleeding companies includes Romania’s largest budget debtor CNH, subway company Metrorex, railway operators CFR Calatori and CFR Infrastructura, seven airport operators as well as energy companies Termoelectrica and CET Brasov.

„The budget deficit will be monitored quarterly through the cash balance of the general government. The authorities will consult with IMF staff on corrective measures in the event of shortfalls in government revenue and financing,” the government said in its memorandum.