about us | newsletter | contact | archive | members area
"All our business lines increased by 24 per cent in the first half of this year"
David Gedlicka, Porsche Finance Group»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

Government-run companies post aggregate 1994-2015 net losses of 66.5 billion RON

Romania's government-run companies have posted an aggregate net loss of 66.5 billion RON (14.7 billion Euro), 1994-2015, with 65.5 billion RON (14.5 billion Euro) in the first ten years of the analysis, according to data from National Bank of Romania, Agerpres news agency reads.

2017-04-03 13:01:52

"Despite sounder balance sheets, the financial reports of the government-run companies are negative overall (added net results of the years 1994-2015 reveal an aggregate net loss of 66.5 billion lei, with 65.5 billion lei amassed in the first ten years of the said period). There are two caveats in interpreting this aggregate result: first, the government-run companies are made up of diametrically opposed populations in terms of performance: there are companies reporting high profit figures, and then there are companies recording very high losses, which exceed the profits of the former," reads a document posted by the National Bank of Romania (BNR) on its website.

According to the same document, the top ten profitable government-run companies share between them 81 per cent of the net positive result.
"Similarly, the top 10 companies also share between them some 89 percent of the total losses. The government-run companies operated on a profit in just eight of the 22 years under consideration (the years 1994, 2005-2007, 2011 and 2013-2015). The ratio between the aggregate net profits and the aggregate losses in the period under consideration is 1 to 2," according to BNR.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  4453 Views
Daily Info
Openville Timisoara to open in the fourth quarter of 2018

The Openville Timisoara development, the largest mixed-use project in the west of Romania will be opened in the fourth quarter of next year, upon completion of the first phase...

URBB posts record production figure in 2017

United Romanian Breweries Bereprod (URBB) registered a record production figure exceeding two million hectolitres for the period January-November 2017, representing a 10 per c...

Cristian Busu has been reappointed president of Electrica's board

Cristian Busu has been reappointed president of Electrica board, the electric energy supplier. He is a member of the board since 2014 and was chosen in this position during th...

Transelectrica inaugurated the Campia Turzii station, fully refurbished with 9 million Euro

Transelectrica inaugurated the 220/110/20 kV Campia Turzii (Cluj County) electricity station, after an investment of about 42 million RON (9 million Euro).

CTP starts CSR project for the workforce market nearby Bucharest

CTP is starting a social responsibility program that aims to facilitate a series of meetings between high school students and representatives of important companies that are t...

 
 
   
advertising

advertising

advertising

advertising

advertising

advertising

advertising

advertising

advertising

More on News
Former PM Ciolos: We cannot risk Romania's future

Former Prime Minister Dacian Ciolos was present Sunday evening at the protest in Bucharest, on which occasion he argued that he considered joining the manifestations becaus...

PM Tudose reaffirms commitment to unconditional partnership with Romanian Army

The government of Romania has always been and will stay an unconditional partner to the Romanian Army, Premier Mihai Tudose said in a message on the National Army Day.

Romania initiates first meeting of EU Council Presidencies' Trio with Finland and Croatia

Minister-Delegate for European Affairs Victor Negrescu has initiated on Monday in Brussels, the first, minister-level meeting of the Trio of Presidencies that Romania is du...

Minister Negrescu: Romania is profoundly pro-European, we will be even more significant after Brexit completion

Minister Delegate for European Affairs Victor Negrescu said on Thursday that Romania is a profoundly pro-European state and will become more significant after the Brexit pr...

Iohannis: A significant delay in tax measures would be required

President Klaus Iohannis said that a significant delay in the amendments to the tax legislation would be required, adding that the January 1, 2018 deadline for their applic...

Dragnea: Amendments to the tax code, code of tax procedure to pass under government ordinance

Amendments to the tax code and the code of tax procedure will pass under a government ordinance and will be unveiled after the government meeting, national leader of the So...

Iohannis: Romania has made progress with equal opportunities, needs to speed up gap bridging

Romania's President Klaus Iohannis said that although important progress has been made in Romania in terms of gender equality, the country needs to speed up bridging the ga...