Romanian Govt Allots RON500M To Pay State Companies’ Debts To Private Firms

Romania’s Government will allot 1.9 billion lei (EUR1=RON4.2404) to pay the state’s healthcare debts and RON500 million to cover the debts of state companies to firms which are themselves indebted to the budget, Prime Minister Emil Boc said Wednesday.

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Boc said the funds would be allotted through a budget revision next week.

Romania's government arrears stood at RON2 billion at the end of June, almost double compared with the target agreed with the International Monetary Fund, of RON1.09 billion, according to an official document obtained by MEDIAFAX.

International Monetary Fund mission chief Jeffrey Franks said last week that the IMF would release another EUR915 million of its EUR13 billion loan to Romania as soon as the government has fulfilled pre-conditions to reduce budget deficit, including a reduction of arrears.

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