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May 17, 2022

15 companies from the defence industry to have historical debts erased

Historical debts in the defence industry will be erased by the Gov’t through EU approved procedures in order to recover jobs and re-launch an essential sector of the Romanian economy, Prime Minister Victor Ponta announced during yesterday’s Gov’t session. “Through measures approved by the European Union, I want to support the Romanian defence industry which has been at a disadvantage and largely overlooked in recent years. I want more than to recover jobs; I want us to become competitive again, and through what the European Union has allowed us in terms of erasing historical debts that it will never be able to repay, I want us to re-launch this essential sector of the Romania economy,” Ponta said.
Precisely, the government decided the cancellation of fiscal obligations due by 15 companies from the defence industry that manufacture or trade armament, ammunition and war material, also invoking the current geopolitical regional context that “imposes the reinforcing of Romania’s defence capacity.”
Two weeks ago, the Mediafax news agency announced that the Government was prepared to adopt an ordinance on lowering budgetary arrears for certain categories of economic operators in the defence industry, after a draft had been drawn up in this respect back in February 2011. The three-year-old version mentions the new EU regulations’ focus on protecting national military interests and the impact of asset foreclosure on the defence production capacity volume as supporting arguments for erasing the budgetary debt of several national defence companies, amounting to approx. RON 1 billion. The erasing measure was presented as a step towards the companies’ economic and financial recovery.

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