Over 50 companies received EUR 3 bln in state aid during 2007-2013

MFP (the Ministry of Public Finance) approved financing for 52 investments projects carried out between 2007 and 2013 worth a total of EUR 3.08 billion, EUR 727.19 million of which is state aid; EUR 319.33 million has been paid so far.  “The approved state aid accounts for only one fourth of total investments attracted through this support mechanism. The Romanian state will recover the state aid approved for these beneficiaries through direct contributions of 141 per cent, the equivalent of EUR 1,753.77 million, to the general consolidated budget and the medium term local budget (during the implementation plus a five-year monitoring period after its completion)” the MFP document shows.  Only 16 of the approved projects were finalized between 2007 and 2013 and eight of them were finalized in 2013 alone. The projects are aimed at generating around 20,000 jobs.  Last year, the Ministry approved 23 of 52 projects worth EUR 860.87 million in investments, as a result of which 8,000 new jobs are expected. EUR 215.47 million were approved by the MFP in state aid, EUR 107.35 million of which has already been paid. The main beneficiaries of state aid who were granted financing agreements in 2013 include foreign capital companies like Daimler, IBM, Microsoft, Dell, Delphi, Continental Anvelope, and Romanian companies like Adeplast.  Pirelli, Dacia-Renault, Rombat, and Contitech (part of Continental Group) are among the companies who finalized state-aid financed projects last year.

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