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Romanian State Cos Might Be Again Forced To Transfer 90% Of Profit To State Budget

The Romanian Government wants to force state companies and autonomous departments again to transfer 90% of their profit to the state budget, people close to the matter told MEDIAFAX Thursday.
Romanian State Cos Might Be Again Forced To Transfer 90% Of Profit To State Budget
Ioana Tudor
22 dec. 2011, 20:58, English

This system was applied last year.

The Executive postponed a decision on the matter, as some ministers opposed the measure, arguing the state must let these companies develop, said the sources.

Prime Minister Emil Boc said it is not normal state companies keep significant amounts of money in bank deposits, while the Government has to borrow money to finance the budget deficit.

Under the current legislation, state companies transfer 50% of their profit to the state budget.