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10 state companies will be monitored with priority, according to Romania's Government agreement with the IMF

de Alina Neagu, transl/adapt. C.B.
Miercuri, 23 septembrie 2009, 14:34 English | Politics

The financial evolutions of 10 Romanian state companies have been highlighted for monitoring in regards to the reduction of the subvention volume, according to the additional intention letter to the stand-by agreement between the Government and the IMF, Romanian press agency Mediafax informs. The list features the National Railway Company (CFR), the National CFR Passengers Transport Society, The National Coal Company, Termoelectrica, the National Highways and Roads Company and Metrorex.

The list is completed by CFR Goods, Electrocentrale Bucharest, Electrificare CFR Commercial Company and the National Administration for Land Improvement.

Following the first evaluation, the monitoring will focus on these companies. During the second evaluation mission, after the Finance Ministry’s system of monitoring is refined, quarterly guiding targets will be set for 2010, addressing the net operational sold - high interests incomes, taxes and duties - for subventions after all expenses for the biggest 30 companies, the letter reads.

The second IMF mission in Romania is expected at the end of October or beginning of November and will focus on a new evaluation of the stand-by agreement.

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