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December 1, 2022

State companies keep piling losses

Freight railway operator CFR Marfa closed last years with losses of RON 133.5 M, up 67.9 pc from the level approved by Government in the company’s revenue and spending budget of RON 79.5 M, Mediafax reports yesterday, reproducing data released by the Ministry of Finance. Year 2007 was the last when CFR Marfa posted a profit, RON 6.12 M namely, down 85.7 pc from that the year before. Last year’s revenues exceeded by 6.2 pc the level anticipated by the government at the company’s budget readjustment last December, yet spending too was up by 10 pc. This year’s CFR Marfa draft budget estimates losses of RON 95 M, which are expected to decline to RON 23 M, only to go up again in 2014, when losses are predicted to reach RON 35 M. Airline Tarom cut back on losses by 24.16 pc from 2010, from RON 332.5 M to RON 252.18 M, yet, they are still high compared to the negative result of RON 234.7 M the company posted in 2009. Tarom puts this year’s losses at RON 187.24 M, expected to decrease to RON 122.29 M in 2013, and RON 60.58 M in 2014, according to this year’s draft budget.


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