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December 1, 2020

Government prepares to erase defence industry companies’ public debts

The government prepares to erase the debts of defence industry companies to the state budget, worth about RON 1 bln, by using a new EU norm that allows protecting the national military interest, with the argument that impounding the assets of this industry will affect the production capacity of the defence industry, Realitatea.net reports. According to a document issued by the Ministry of the Economy, erasing the debts accumulated by the companies that operate in the defence industry will be treated as a measure of economic and financial recovery aimed at this sector. The list of defence industry companies controlled by the Ministry of Economy includes Romarm with its subsidiaries, Avioane Craiova, IAR Brasov, the Mangalia Shipyards, IOR Bucharest, Romaero, Uzina Mecanica Orastie, Constructii Aeronautice. According to data provided by the Finance Ministry, the cumulated debt of these companies to the state budget reached RON 917.4 M in 2009.

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