BUSINESS

State companies’ arrears paid partially

The railway companies’ electricity debts and CNADNR’s debts will be partially and fully paid, respectively, from the budget, while other companies will enter insolvency “or liquidation;” this list already includes Railway Interventions, Romavia, and Oltenia Energy Services. The above mentioned companies are also included in the letter of intent draft agreed upon with the International Monetary Fund (IMF) which is to be approved by the Government, according to Mediafax. In the document, the Executive admits it has failed to reach the guideline target set last December for cumulated arrears of state companies under central administration, but “as a corrective measure”, he also promises to cut back arrears in the first quarter of this year, so as to reach the target set for end-March. The Executive also plans to include a Treasury loan for CFR Calatori in the deficit target of the first quarter, as an additional measure to cut back arrears.

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